Fed's Goolsbee Says Threshold for Rate Cut Higher Than at Previous Two FOMC Meetings

Federal Reserve Bank of Chicago President Austan Goolsbee said on Nov. 3 the bar for a rate reduction has risen compared to the prior two Federal Reserve meetings, Jin10 reports. He noted inflation remains a concern and expressed unease about cutting rates prematurely, while maintaining rates should ultimately decline as inflation moderates. Goolsbee added he has not determined his stance for the upcoming FOMC meeting, though he believes rates will stabilize well below current levels.