Chicago Fed president Austan Goolsbee says the Fed can’t be over-restrictive when it comes to rates, amid fears the central bank has been too slow to cut rates.
Already a subscriber?The US economy does not look like it is in recession despite weaker-than-expected jobs data, but Federal Reserve policymakers need to carefully monitor changes in the environment to avoid being too restrictive with interest rates, Chicago Fed Bank president Austan Goolsbee said on Monday.
“The law doesn’t say anything about the stock market, it’s about the employment and it’s about price stability,” he said. The dollar weakened to near its lowest levels of the year against a basket of major trading partner currencies.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cutting interest rates ‘too late or too little’ could hit jobs, Fed chair warnsJerome Powell tells senators in congressional hearing ‘elevated inflation is not the only risk we face’
Read more »
ASX 200: ASX hits record high as Fed gets ‘all clear’ to cut ratesShares and bonds have rallied, but economists are warning investors against reading too much into what the data could mean for Australia’s own central bank.
Read more »
Germany bans ‘rightwing extremist’ Compact magazineAfD-supporting publication has fed racist and far-right nationalist conspiracy theories
Read more »
Kamala Harris earns enough delegate support to become Democratic nomineeSupport of California delegation puts vice-president over threshold needed when party meets at Chicago convention
Read more »
Before the Bell: US stock rotation trade picks up on Fed-friendly dataEvery major group in the S&P 500 rose on bets that the start of the Fed easing cycle will keep fuelling the outlook for Corporate America.
Read more »
ASX set to rise as Big Tech drives Wall Street surge; Fed eyes September rate cutBig technology stocks are bouncing back and behind a big rally for US indexes on Wall Street on Wednesday.
Read more »