Fed's Goolsbee: rates may be much lower in next 12 to 18 months than now
According to reports, Fed Goolsbee said that interest rates will be significantly lower in the next 12-18 months as long as inflation continues to fall towards the Fed's 2% target.
However, Goolsbee agreed with Fed Chairman Jerome Powell that policymakers are in no hurry to cut rates. Goolsbee said, ‘As long as we continue to move toward our 2% inflation target, rates will be much lower than they are now over the next 12 to 18 months.’
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