Federal Reserve Bank of Chicago President and CEO Austan Goolsbee
Federal Reserve Bank of Chicago President Austan Goolsbee said all options on interest rates are on the table right now. "I don't see how you can look at the current situation and, at least to me, view that the only thing that's on the table conceivably are rate cuts," Goolsbee said today in an interview on Bloomberg Television.
Fed officials left interest rates unchanged at a meeting at the end of April. Three officials dissented against language in the statement that indicated the central bank's next move is likely an interest rate cut. They preferred to signal the next action may be either a cut or a hike. Goolsbee's comments add to the ongoing shift among Fed policymakers away from any consideration of a rate reduction in the near future. That's driven largely by concerns over inflation due to the ongoing energy-price shock triggered by the U.S. war in Iran.
Goolsbee doesn't vote on monetary policy this year, but he reiterated Friday that he believed both options—a rate cut and a rate hike—are on the table for him and his colleagues. He also repeated that he's anxious about inflation and sees price pressures beyond just the energy shock.
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