Fed's Goolsbee signals support for rate cuts amid warning signs from labor market

Investing.com -- Chicago Federal Reserve President Austan Goolsbee expressed support for interest rate cuts on Friday, citing concerns about high rates amid"warning signs" in the labor market

Goolsbee flagged"warning signs" about part of the labor market following July's weaker nonfarm payrolls data, backing the central bank's increased focus on the labor market. "I don't think inflation will get stuck above 2%," Goolsbee said. His comments followed Fed Chairman Jerome Powell's speech signaling potential rate cuts.

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Fed's Goolsbee: Rising unemployment may indicate worsening job marketFederal Reserve Bank of Chicago President Austan Goolsbee said on Wednesday that he becomes more worried about the labor market than inflation, citing recent progress on price pressures and weak jobs data, per Bloomberg Key quotes It's important that we not assume that if the labor market were to deteriorate past normal, that we could react and...
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