Fed's Goolsbee
- it's important to “be aware that historically when the unemployment rate starts going up, it doesn't just gradually drift up. It tends to go up rapidly.”
- Did not rule out the possibility of Fed cutting rates in March
- Expects rates to be lower next year compared to now, though not significantly
- With inflation fall to 2% target, it could be appropriate to be more mindful of risk that unemployment rises
This is a topic I've written about before and is very well known in the fixed income market.
This comment appears to have been made at a WSJ event but few headlines are trickling out. This is dovish stuff.
