(Reuters) -Federal Reserve Bank of Chicago President Austan Goolsbee said the U.S. jobs market remains “mostly steady and solid” and warned against a series of interest rate cuts, the Financial Times reported on Thursday. Goolsbee told the newspaper he was “uncomfortable with overly frontloading a lot of rate cuts on the presumption that (inflation) will […]
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Fed’s Goolsbee says US jobs market steady, cautions against aggressive rate cuts, FT reports
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(Reuters) -Federal Reserve Bank of Chicago President Austan Goolsbee said the U.S. jobs market remains “mostly steady and solid” and warned against a series of interest rate cuts, the Financial Times reported on Thursday.
Goolsbee told the newspaper he was “uncomfortable with overly frontloading a lot of rate cuts on the presumption that (inflation) will probably just be transitory and go away,” according to the report.
(Reporting by Surbhi Misra in Bengaluru; Editing by Chris Reese)