US Fed’s Goolsbee welcomes latest inflation data, says more rate cuts may loom 

FEDERAL Reserve Bank of Chicago President Austan Goolsbee said on Thursday fresh inflation data is “good” and if it can be sustained it should help open the door for more interest rate cuts next year.

“My view is that the settling point of rates is a fair bit below where it is today, and that by the end of next year we can, as long as we are hitting our marks on getting inflation back on path to 2 per cent, I think that it’s realistic that rates can come down a fair amount,” Goolsbee said in a Fox Business interview.

Goolsbee was one of two officials who voted against the central bank’s rate cut last week. REUTERS