In an interview with Fox TV early Wednesday, Federal Reserve Bank of Chicago President Austan Goolsbee said that the “market has gotten ahead of themselves on euphoria” on likely interest rate cuts.
Additional comments
If inflation keeps coming down, Fed can reconsider how restrictive it is.
Fed’s decisions are not political.
What determines whether Fed can be less restrictive is inflation.
Fed should not be bullied by what the market wants.
Market reaction
At the time of writing, the US Dollar Index is holding steady at around 102.20, consolidating the previous decline.
Source: https://www.fxstreet.com/news/feds-goolsbee-on-rate-cuts-market-has-gotten-ahead-of-themselves-on-euphoria-202312200344