Chicago Fed President Goolsbee says if economy deteriorates, Fed will ‘fix it’

Key Points

Chicago Federal Reserve President Austan Goolsbee said Monday on CNBC that the central bank would react to signs of weakness in the economy.
“I’m not going to bind our hands of what should happen going forward because we’re still going to get more information. But if we are not overheating, we should not be tightening or restrictive in real terms,” he said.
Markets expect the Fed to head into an aggressive easing mode, starting in September with a 0.5 percentage-point rate cut.

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