(Reuters) -Chicago Federal Reserve President Austan Goolsbee repeated on Thursday he is “uneasy” about frontloading interest-rate cuts, particularly with progress on inflation towards the Fed’s 2% goal looking to have stalled and starting to go the wrong way.
“In my view, this underlying the economy is pretty strong and I feel like eventually we are going to be back to, rates can come down a fair amount, but in the near term I’m a little uneasy front loading too many rate cuts, and counting on (that) this will be transitory and inflation will go back down,” Goolsbee told the Chartered Financial Analyst Society of Indianapolis.
The lack of official data due to the government shutdown, he said, makes him even more uneasy because without it the Fed does not have as much visibility into price pressures as it does on the state of the labor market.
(Reporting by Ann Saphir; Editing by Chris Reese)
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