Fed's Goolsbee: Rates will continue to fall

Odaily Odaily News: Fed's Goolsbee said he expects the Fed to continue to cut interest rates to achieve the goal of neither restricting nor promoting economic activity. "Unless there is convincing evidence that the economy is overheating, I see no reason not to continue to lower the federal funds rate," Goolsbee said. "The pace of rate cuts depends on the outlook and conditions. But in my opinion, we are on a clear path that will lead to lower interest rates, closer to the neutral rate." He said his forecast for the neutral rate is close to the median estimate of officials, which is 2.9% predicted in September. Goolsbee said that the overall situation in recent months is that inflation has often been lower than expected, but not far above the 2% target.