US Inflation Above Target, Fed’s Goolsbee Urges Careful Rate Reductions

Federal Reserve Bank of Chicago President Austan Goolsbee said the US central bank should be cautious toward additional interest-rate reductions given inflation is above its target and on an upward trajectory.

“Eventually, at a gradual pace, rates can come down a fair amount if we can get this stagflationary dust out of the air,” Goolsbee said Tuesday in an interview with CNBC.