The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., U.S., June 14, 2022. REUTERS
Federal Reserve Bank of Chicago President Austan Goolsbee hosts a ‘Fed Listens’ event in Chicago, Illinois, U.S., on July 10, 2024. REUTERS
Federal Reserve Bank of Chicago President Austan Goolsbee on Friday signaled he feels the U.S. central bank will likely end up cutting the policy rate by another quarter of a percentage point this year and a full percentage point further next year, as Fed policymakers projected in September.
“I think we are going to be looking at rates coming down over the next year along the line the dot-plot said,” Goolsbee told Bloomberg TV, referring to Fed projections released in September that depict the rate-path forecasts of the Fed’s 19 policymakers as dots on a chart.
The median view of that dot plot was for the Fed policy rate to end this year at 4.4%, a quarter of a percentage point below where it is today, and to be 3.4% by the end of next year.
Reporting by Ann Saphir
