CHICAGO FED DISSENT
Federal Reserve Bank of Chicago President Austan Goolsbee has explained his decision to vote against the Fed’s decision to cut interest rates by a quarter percentage point on Wednesday. While he voted to lower rates at the September and October Federal Open Market Committee meetings, Goolsbee said the panel should have waited to get more data, especially about inflation, before lowering rates further. Goolsbee was a member of President Barack Obama’s cabinet and chaired the Council of Economic Advisers from 2009 through 2011.
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