Fed's Goolsbee sees another 125 bps of rate cuts by end-2025
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FILE PHOTO: The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., U.S., June 14, 2022. REUTERS/Sarah Silbiger/File Photo
(Reuters) - Federal Reserve Bank of Chicago President Austan Goolsbee on Friday signaled he feels the U.S. central bank will likely end up cutting the policy rate by another quarter of a percentage point this year and a full percentage point further next year, as Fed policymakers projected in September .
"I think we are going to be looking at rates coming down over the next year along the line the dot-plot said," Goolsbee told Bloomberg TV, referring to Fed projections released in September that depict the rate-path forecasts of the Fed's 19 policymakers as dots on a chart.
The median view of that dot plot was for the Fed policy rate to end this year at 4.4%, a quarter of a percentage point below where it is today, and to be 3.4% by the end of next year.
(Reporting by Ann Saphir)
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