Fed's Goolsbee explains vote against rate cut, says central bank should have waited

Chicago Fed President Austan Goolsbee spoke about his opposition to the rate cut on CNBC. He highlighted the need for a more cautious approach regarding the long-term economic outlook amidst market pressures. Goolsbee suggested that the central bank should better evaluate past actions and market reactions before adjusting policies. However, he did not specify any interest rate levels or targets. His comments reignite concerns regarding Fed's approach to monetary policy, especially as uncertainty looms over inflation and economic growth. Investors are advised to consider this volatility as they navigate the market dynamics following Goolsbee's statements.