Federal Reserve's Goolsbee: There is a broad consensus within the Federal Reserve to implement multiple rate cuts

ChainCatcher news, according to Jinshi reports, Federal Reserve's Goolsbee stated that today's employment data is a continuation of the trend we have been observing; the job market is slowing down, and the monthly inflation data has been below expectations. The policy has just been tightened, raising serious questions for this meeting and the coming months. We must ensure that the labor market does not deteriorate. The content of the Federal Reserve's Beige Book is relatively pessimistic, indicating warning signs in the economy.

There is a general consensus within the Federal Reserve that multiple rate cuts will occur. (When asked about larger rate cuts) Goolsbee stated to pay attention to the dot plot, which does not show inflation decreasing so quickly or unemployment rising so high. (When asked if there would be a 50 basis point cut in September) Goolsbee stated that the outcome of the next meeting itself is not the most important; the path of rate cuts in the coming months is more crucial.