Fed's Goolsbee: We need several months of favorable inflation data to feel comfortable cutting rates

Odaily Planet Daily reports that Fed Chair Goolsbee stated: "There will be some important data releases before the Fed's September meeting, but that doesn't mean I can't make a decision then." Given the tariffs on semiconductors and the new tariff announcements, the unease about tariffs is being viewed as a one-time inflation shock. So far, we've experienced several months of moderate inflation; the latest CPI data shows worrying inflation in the services sector. Several months of favorable inflation data are needed to gain the comfort level needed to cut interest rates.