Goolsby, a member of the US Federal Reserve
US Federal Reserve Bank member Austin Goolsby said in an interview with CBS yesterday, Sunday: It is too early for the US Federal Reserve to declare victory in its battle against inflation, indicating that decisions to reduce interest rates will depend on the incoming economic data.
His statements addressed these points:
- He did not rule out the possibility that the US Federal Reserve will cut interest rates in March 2024.
- We must reduce inflation to the target level.
- The US Federal Reserve is still getting another month’s data.
- But 2023 may end with a very significant decline in inflation rates without a significant increase in unemployment rates.
- Disappointing data reports could prompt the US Federal Reserve to raise interest rates again.
- We’ve noticed that delinquencies are on the rise, for credit card debt, auto lending, and small businesses.
In previous statements, Goolsbee’s counterpart, US Federal Reserve member John Williams, said that it was too early to think about lowering interest rates in March, but if the US Federal Reserve sees the progress it hopes to see in inflation, it is natural for it to lower interest rates.
However, he said that the US Federal Reserve should be prepared for further monetary tightening if progress in slowing inflation stalls.
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2023-12-18 06:29:06
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