Chicago Fed President Advocates For Further Rate Cuts Amid Fed Debate

According to Odaily, Chicago Federal Reserve President Austan Goolsbee reiterated his support for further interest rate cuts on Thursday, expressing openness to a more gradual approach. This statement highlights the ongoing debate among Federal Reserve policymakers, focusing not on whether to cut rates, but on the pace and magnitude of such cuts. The Federal Reserve is scheduled to meet on December 17-18 to decide whether to lower policy rates again or to postpone any action until next year. Financial markets anticipate a challenging decision-making process, with interest rate futures indicating a 55% probability of a 25 basis point rate cut and a 45% chance of maintaining current rates. This discussion comes amid broader economic considerations, as the Federal Reserve weighs the implications of its monetary policy on the economy. The decision will be closely watched by investors and economists, as it could signal the Fed's approach to managing economic growth and inflation in the coming months.