Fed's Goolsbee: Not decided for what happens at next Fed meeting

Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee said on Monday that he would feel uneasy frontloading rate cuts, per Reuters.

Key takeaways

"I believe the place rates will settle is a fair bit below current levels."

"Golden path for economy is still possible."

"Rates should come down with inflation."

"Inflation data still is worrisome."

"I'm not decided for what happens at next Fed meeting."

"Threshold for cutting rates higher than at last two Fed meetings."

"More worried about inflation over job market risks."

"Some key job market metrics have been pretty stable."

"There are still concerns about job market."

"It is important to be careful when economy is in time of transition."

"Cautious about layoff data."

"The hiring rate is low, one of economy's weakest factors."

"Is unusual to have low hiring, low firing economy."

"Very hard to get timing right in time of transition."

"I am nervous about inflation side of the ledger."

Market reaction

The US Dollar Index showed no reaction to these comments, which received a neutral score of 5.2 from FXStreet Fedspeech Tracker, and was last seen gaining 0.15% on the day at 99.85.