Fed official warns rate cuts depend on lower inflation

Interest-rate cuts in the near term aren’t appropriate by the Fed until there’s more evidence that sticky inflation is declining, said Chicago Federal Reserve President Austan Goolsbee. Goolsbee, a voting member of the policymaking Federal Open Market Committee, also said the Supreme Court’s decision to strike down many of President Donald Trump’s sweeping global tariffs could help cool inflation. “I remain optimistic that there can be more rate cuts this year. But that hinges on seeing actual progress on ...