Chicago Federal Reserve President Austan Goolsbee said Monday that he had indicated three interest rate cuts this year at the Federal Reserve’s monetary policy meeting last week.
At that meeting, the U.S. central bank kept its benchmark lending rate between 5.25% and 5.5%, while policymakers’ median estimates pointed to three interest rate cuts this year.
“For that I was average,” Goolsbee said in an interview with Yahoo Finance, though he declined to say when he thought monetary easing might begin.
Goolsbee added that price growth data for January and February were higher than expected, with the “main issue” remaining property inflation.
“So we’re in an uncertain state, but I don’t feel like we’ve fundamentally changed the return-to-goal story,” Goolsbee said.
Source: Terra
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