Chicago Fed's Goolsbee uneasy about preemptive rate cuts

Austan Goolsbee, President of the Federal Reserve Bank of Chicago, said he is uneasy about the prospect of preemptively cutting interest rates. He added that inflation data remains a concern and that interest rates should come down along with inflation. However, he believes rates will eventually settle well below current levels, implying that long-term neutral interest rates will decline materially from their present levels.