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American Focus > Blog > Economy > Fed’s Goolsbee, on CNBC, says Fed has room to cut rates
Economy

Fed’s Goolsbee, on CNBC, says Fed has room to cut rates

Last updated: September 25, 2025 8:57 am
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Fed’s Goolsbee, on CNBC, says Fed has room to cut rates
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Chicago Fed President Signals Potential for Interest Rate Cuts Amid Inflation Concerns

(Reuters) – Austan Goolsbee, the President of the Federal Reserve Bank of Chicago, expressed optimism on Tuesday regarding the possibility of cutting interest rates if inflation trends downward. In a candid interview with CNBC, he stated, “If inflation cools off, we have some space to cut our interest rate target.”

Goolsbee elaborated on the potential adjustments to the rate in terms of a gradual reduction. He mentioned, “I think eventually, at a gradual pace, rates can come down a fair amount if we can get this stagflationary dust out of the air.” Currently, the Fed’s target rate is set within a range of 4% to 4.25%. Goolsbee indicated that a more neutral rate could be around 100 to 125 basis points lower, suggesting a target around 3% in conjunction with an inflation rate of 2%. He expressed comfort with this figure, considering it a suitable benchmark.

As a voting member of the interest-rate setting Federal Open Market Committee (FOMC), Goolsbee’s remarks come on the heels of the central bank’s recent decision to lower its target rate by a quarter percentage point. While officials remain vigilant about high inflation rates, they are also keen on reducing short-term borrowing costs to mitigate risks to the job market.

During his TV appearance, Goolsbee characterized the current Fed policy as “mildly restrictive.” He also acknowledged the persistent risks associated with inflation, stating, “With inflation having been over the target for four and a half years in a row and rising, we need to be careful not to be overly aggressive” with interest rate cuts. However, he noted, “The labor market continues to cool at a sort of a mild to modest pace,” indicating a cautious but optimistic outlook.

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Additionally, the Chicago Fed released a report on Tuesday that offers insights into real-time unemployment trends, projecting the unemployment rate to have remained steady at 4.3% in September.

(Reporting by Michael S. Derby; Editing by Chizu Nomiyama)

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