A Federal Reserve board member who this week voted against a rate cut said he did so because he wants to see more economy-related data.
Chicago Fed President Austan Goolsbee told CNBC he was “uncomfortable front-loading too many rate cuts” while inflation remains stubbornly above the central bank’s 2% goal and recent readings have shown “no progress” for months.
With the government shutdown delaying key economic reports, Goolsbee said policymakers should have waited for clearer evidence before easing again.
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