Chicago Federal Reserve President Austan Goolsbee said the neutral rate is 'well below' where it is right now, and policymakers can cut further so long as the economy does not overheat.
Chicago Federal Reserve Bank President Austan Goolsbee said on Monday that the Fed's interest rate-cutting campaign has a ways to go before reaching a "neutral" rate and that the central bank should continue to cut to reach that rate so long as the economy does not show signs of overheating.
" Powell added that while there is not a "theoretical or empirical way" to confidently estimate the neutral rate, it "argues for moving carefully." Goolsbee echoed the chair's sentiment, saying that the neutral rate is known "by its works in the economy.
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