Fed’s Goolsbee says US credit conditions are tight and are getting tighter

Federal Reserve Bank of Chicago President Austan Goolsbee spoke in an interview with CBS’ Face the Nation on Sunday:

• US credit
  conditions are tight and are getting tighter
• no certainty the Fed will cut interest rates next month, but not doing so could damage the labour market
• “When you set a rate high like we have and hold it there
  while inflation falls, you’re actually tightening,”
• the economic data is a mix of positive indicators and
  some that are more concerning
• “If you keep too tight
  for too long, you will have a problem on the employment side of
  the Fed’s mandate.”

This article was written by Eamonn Sheridan at www.forexlive.com.