Fed's Goolsbee Cautions Against Aggressive Rate Cuts

Federal Reserve Bank of Chicago President Austan Goolsbee said the U.S. jobs market remains "mostly steady and solid" and warned against a series of interest rate cuts, The Financial Times reported Thursday.

Goolsbee told the newspaper he was "uncomfortable with overly frontloading a lot of rate cuts on the presumption that (inflation) will probably just be transitory and go away," according to the report.