Federal Reserve's Goolsbee Optimistic About Potential Rate Cuts This Year

Federal Reserve official Goolsbee expressed optimism about the possibility of further interest rate cuts this year. According to Odaily, this outlook is contingent upon inflation rates returning to target levels. Goolsbee emphasized that relying on increased productivity to reduce inflation is not feasible, nor should it be used as a justification for lowering interest rates. Cutting rates in anticipation of productivity gains could potentially lead to an overheated economy.