Fed's Goolsbee: Warning signs in economy weakening
Federal Reserve Bank of Chicago President Austan Goolsbee said on Tuesday that he perceives "some warning signs" like the "real economy weakening" and although it is still strong, the monetary policymakers need to start evaluating the "real side of the impact" of being restrictive "for too long."
Speaking to CNBC in Sintra, Portugal, Goolsbee asserted he agrees with US Fed Chair Jerome Powell's remarks as "more months of inflation readings" similar to the ones from the last couple of months are needed, so the Fed can gain "a lot more confidence" before deciding to cut interest rates.
"You only want to stay this restrictive for as long as you have to and if you look at the progress that we made on inflation, it's heartening that the blip we observed at the beginning of this year has mostly looked like a blip or a bump in the road," he stressed.