Fed's Goolsbee: policy rates are now restrictive, Fed rates could fall in 12-18 months

Fed Goolsbee said that the policy rate is now restrictive, the policy is much less restrictive than before; interest rates will fall a little bit, the policy rate is still far from reaching the neutral interest rate, the Fed is expected to interest rates in 2025 will be ‘moderately downward’, the interest rate path will be determined by the employment, price conditions. And said the Fed rate may fall in 12-18 months.