Fed Rate Cuts Expected Later This Year If Inflation Keeps Slowing
• Goolsbee says too soon to say when Fed will cut interest rates, but reductions expected this year if inflation progress continues • Fed raised rates aggressively in 2022-2023 to slow economy and tame high inflation • Inflation has now slowed to around 3% from over 9% peak • Wall Street expects Fed to start cutting rates soon, but Fed officials caution spring will likely be too early • Fed officials next meet end of January to reassess economy and policy path