Federal Reserve Bank of Chicago President Austan Goolsbee said on Monday that he foresees the Fed continuing to lower rates toward a stance that neither restricts nor promotes economic activity, per Bloomberg.  

Key quotes

“Barring some convincing evidence of overheating, I don’t see the case for not continuing to have the fed funds rate decline,” 

“How fast that happens will be determined by the outlook and conditions.”

“But the through line to me is pretty clear that we’re on a path, and that path is going to lead to lower rates, closer to what you might call neutral.” 

“I think the broad through line has been the newer months of inflation coming in oftentimes below what was expected, but not that far above the 2% target.”