off-the-wire

Fed's Goolsbee tells CNBC getting inflation lower is Fed's main job

Kitco Media
By Reuters
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Reuters
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Jan 15 (Reuters) - Federal Reserve Bank of Chicago President Austan Goolsbee said Thursday that amid ample evidence of stability in the job market the central bank should be focused on getting inflation down, in comments that kept alive the prospect of rate cuts later this year.

“There’s still strength” in the job market and “I think the most important thing facing us is we've got to get inflation back to 2%,” Goolsbee said in an interview on CNBC. “Rates can go down still a fair amount” with cuts even happening this year, but “we have to have convincing evidence that we're on path back to 2% inflation.”

Reporting by Michael S. Derby;

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