CHICAGO Federal Reserve Bank President Austan Goolsbee said he expected interest rates to be 'a fair bit lower' in 12-18 months but added that it may take longer than anticipated for the next cut because of economic uncertainty, according to a Financial Times interview published Wednesday.
CHICAGO Fed eral Reserve Bank President Austan Goolsbee said he expected interest rates to be 'a fair bit lower' in 12-18 months but added that it may take longer than anticipated for the next cut because of economic uncertainty, according to a Financial Times interview published Wednesday.
'My view is that when there's dust in the air, 'wait and see' is the correct approach when you face uncertainty,' he told the FT in an interview. Fed policymakers left the central bank's benchmark interest rate in the 4.25- to 4.50-percent range earlier in March and signaled they still expect to lower it at some point later this year.
Fed Rate Cut May Take Longer Than Expected
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