off-the-wire

Fed likely on track to lower rates after bumpy period, says Goolsbee

Kitco Media
By Reuters
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Reuters
Fed likely on track to lower rates after bumpy period, says Goolsbee teaser image

June 2 (Reuters) - Chicago Federal Reserve Bank President Austan Goolsbee said on Monday he continues to think the U.S. central bank will be able to lower short-term borrowing costs after the "dirt in the air" of uncertainty from tariff policies gets cleared up.

"If we can get past this bumpy period, the dual mandate looks pretty good," Goolsbee said in a webcast interview with the Quad Cities Regional Business Journal in Davenport, Iowa. The Fed's dual mandate refers to its two goals: full employment and price stability.

Goolsbee said he continues to believe that if the economy remains in that state and tariffs don't turn out to be as aggressive as announced April 2, the Fed's policy rate will probably be a "fair bit" lower within the next 15 months.

Reporting by Ann Saphir; Editing by Leslie Adler

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