Fed’s Goolsbee Says More Cuts Hinge on Inflation Heading to 2%

Federal Reserve Bank of Chicago President Austan Goolsbee said the US central bank can cut interest rates further if inflation is on track to reach its 2% target, but that’s not currently the case.

“I think rates can go down more — even several cuts more — from where they are today. But that’s conditional on getting inflation back on path to 2%,” Goolsbee said Friday on Yahoo! Finance. “Right now we are not on a path back to 2%. We’re kind of stuck at 3%, and that’s not acceptable.”