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The Economic Times
The Economic Times

Chicago Fed President Goolsbee rejects calls for Fed rate cuts to ease US debt burden

US Federal Reserve Austan Goolsbee Chicago Fed United States Inflation Interest Rates the Federal Reserve

Rejecting calls for the Federal Reserve to cut interest rates to ease the government’s debt burden, Chicago Fed President Austan Goolsbee said on Monday that such demands underscore the need for central-bank independence, Reuters reported.

Speaking in London, Goolsbee said fiscal policy and deficits should remain “background weather” for the Fed and matter only when they affect inflation.

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