Chicago Federal Reserve (Fed) President Austan Goolsbee said he expects the Fed to begin lowering interest rates later this year as inflation cools. The head of the Chicago Fed gave his opinion on the Fed's stance on interest rates during an interview with Fox News on Friday.
Chicago Fed President Goolsbee's comments were the last scheduled intervention by Fed officials before the U.S. central bank enters a media blackout period ahead of its monetary policy meeting on Dec. 19-20. March.
Highlights
“The Fed remains focused on inflation, not the price level.”
“It is unrealistic to expect price levels to immediately return to pre-crisis levels.”
“The rise in rates has undoubtedly contributed to the cost of housing.”
“I expect rates to come down as inflation declines this year.”
Source: Fx Street
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