Fed’s Goolsbee urges patience despite rising rate cut bets
Chicago Fed President Austan Goolsbee told colleagues to "reserve judgment" on September rate cuts, citing sticky service prices in July's CPI. He said payroll softness partly reflects fewer available workers due to tighter immigration. Markets fully price in at least a 25 bps cut; Goldman still sees three cuts in 2025, taking rates toward 3%-3.25%.