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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