Fed's Goolsbee comments on 50 bps rate cut💵EURUSD near 1.18

Austan Goolsbee, Chicago Fed governor, signalled today more dovish stance on US interest rates decision. Here are the most important remarks from his speech.

• The labor market continues to cool at a mild and modest pace.
• I think rates can come down some if we're on a path to getting inflation back to target.
• We need to be a bit careful about getting aggressive
• Right now, I'm not thinking about 50 basis-point cuts.
• Neutral is below where we are now by 100-125 bps
• I think the Fed is mildly restrictive.
• We did not move the inflation target
• Job market statistics show a lot of stability
• We have a low-hiring, low lay-off market.

EURUSD (D1 interval)

Source: xStation5

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