【Federal Reserve's Goolsbee】: We need to observe another month of data to determine whether to cut interest rates in September or fall
Chicago Fed President Goolsbee said on Friday that the latest report released this week shows rising inflation in the services sector, which is concerning as he believes it is a sign of stagflation impact from tariffs on the economy.
In an interview with CNBC, Goolsbee stated, "I think we need to observe at least another month's data to assess whether we are still on the golden path."
"If we can be certain or get hints that we are not caught in a seemingly persistent inflation spiral during this meeting or in several meetings this fall, then given the strength of the economy, I still think it is reasonable to further adjust interest rates back to the level we believe will eventually stabilize."