Fed’s Goolsbee undecided on September rate cut

Investing.com -- Federal Reserve Bank of Chicago President Austan Goolsbee said Friday he remains undecided about whether September is the appropriate time for an interest rate cut, following the release of data showing continued weakening in the job market.

Speaking in an interview on Bloomberg TV, Goolsbee also emphasized the importance of maintaining the Federal Reserve’s independence from short-term political pressures.

"I’m totally opposed to any move to take away the Fed’s independence," Goolsbee stated during the interview. Despite his strong stance on central bank autonomy, he clarified that he does not believe there are current attempts to undermine this independence.

The Chicago Fed president expressed confidence that any nominee to the central bank would approach their responsibilities with seriousness and proper consideration of their mandate.

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