Fed's Goolsbee: There may be a lot of rate cuts in the next 12 months, and it is reasonable to start with a 50 basis point rate cut

Odaily News Fed's Goolsbee said that it is reasonable to start cutting interest rates by 50 basis points. The Fed is returning to the normal dual-mission mode. The current interest rate level is hundreds of basis points higher than the neutral interest rate. Before the recent rate cut, the decline in inflation means that the Fed has been tightening policy. If this continues, there will be a lot of rate cuts in the next 12 months, and there is still a long way to go to reduce interest rates to a near neutral level. (Jinshi)