Fed’s Goolsbee: The job of a central bank is to move in a steady way

• If we stay restrictive for too long, we have to think about the employment mandate
• If unemployment is going to go up higher than 4.1%, that’s the kind of thing the Fed has to respond to
• The through-line of the data doesn’t change based on one month’s number
• We have been seeing the improvement we’ve wanted on inflation
• We will determine the size of rate cut or if there is any action will be the economic conditions

He did at least touch on the size of a rate cut. The market is pricing in a 72% chance of 50 bps in September.

This article was written by Adam Button at www.forexlive.com.