Federal Reserve Bank of Chicago President Austan Goolsbee spoke in an interview with CBS' Face the Nation on Sunday:
- US credit conditions are tight and are getting tighter
- no certainty the Fed will cut interest rates next month, but not doing so could damage the labour market
- "When you set a rate high like we have and hold it there while inflation falls, you're actually tightening,"
- the economic data is a mix of positive indicators and some that are more concerning
- "If you keep too tight for too long, you will have a problem on the employment side of the Fed's mandate."
Goolsbee