Fed’s Goolsbee on rate cuts: Market has gotten ahead of themselves on euphoria

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.