Fed Official Warns of Recession Risks from Aggressive Tightening
CryptoNewsTerminal Staff06 Sep, 2024
Fed Official Warns of Recession Risks from Aggressive Tightening
Federal Reserve Bank of Chicago President Austan Goolsbee has expressed concern over the potential for a recession if the current aggressive monetary tightening continues. Goolsbee, considered one of the Fed's leading doves, emphasized the need for a careful balance between fighting inflation and maintaining economic growth. He suggests that the Fed should consider slowing the pace of interest rate hikes to mitigate the risk of a severe economic downturn. Goolsbee's remarks highlight the growing debate within the Fed over the appropriate path forward for monetary policy amid ongoing concerns about both inflation and economic growth.
