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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