off-the-wire

Fed’s Goolsbee says US jobs market steady, cautions against aggressive rate cuts, FT reports

Kitco Media
By Reuters
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Reuters
Fed’s Goolsbee says US jobs market steady, cautions against aggressive rate cuts, FT reports teaser image

Sept 24 (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

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