By Michael S. Derby
NEW YORK (Reuters) – Chicago Federal Reserve President Austan Goolsbee restated on Monday that he sees a case for comprehensive U.S. main bank interest rate cuts provided the present state of the economy and where it is mostlikely to go.
When it comes to financial policy, “this is a procedure over a year or more that we’re attempting to get the rates down to regular,” Goolsbee stated in an interview with Fox Business. As for the rate and supreme scope of rate cuts, the Fed’s criteria overnight interest rate has “got to come down a lot more than 25 basis points over the next 12 months. It’s going to be a lot of cuts,” and the most current set of main bank projections program poli