Fed’s Goolsbee Says Dissent Was in Favor of Waiting for More Data, Would Have Entailed Little Risk

Illinois quick hits: Chicago Fed president explains vote; Treasurer encourages Bright Start gifts

Chicago Fed president explains vote

Fed’s Goolsbee says dissent was in favor of waiting for more data, would have entailed little risk

WASHINGTON, Dec 12 (Reuters) – Chicago Fed President Austan Goolsbee said Friday that he dissented against the central bank’s recent quarter-point rate cut because he felt it was better to wait ‍for additional data about inflation and the state of the job market before lowering borrowing costs, particularly given the high concern businesses and consumers still express about rising prices. Waiting until early next year to cut rates, Goolsbee said…

Fed's rate cut vote influenced by lack of inflation and job data - CEO North America

In an interview today, Chicago Federal Reserve President Austan Goolsbee explained why he and three other Committee members voted against this week’s interest rate cut, saying policymakers should have waited for more data on inflation and unemployment. Goolsbee, along with Kansas City Fed President Jeffrey Schmid, as well as Governor Stephen Miran vooted against the quarter percentage point reduction pitched at the Federal Reserve’s final meetin…

Fed's Goolsbee: Waiting for more data the “wiser choice” - ActionForex

Chicago Fed President Austan Goolsbee explained his dissent at this week’s FOMC meeting, where he voted to hold rates rather than support the 25bps cut. He said policymakers should have waited for more incoming data, particularly on inflation, arguing that delaying the decision into the new year “would not have entailed much additional risk” and […] The post Fed’s Goolsbee: Waiting for more data the “wiser choice” appeared first on ActionForex.