Federal Reserve Bank of Chicago President Austan Goolsbee told CNBC in an interview on Friday that if there is progress on inflation, the United States central bank will lower its interest rates in 12 to 18 months.
"The Fed needs to be a steady hand and take the long view on the economy. Markets want information fast but that is not realistic at this moment," Goolsbee noted, adding that he still believes the economy is "resilient."
Meanwhile, talking about the Trump administration tariffs, he insisted that before acting, the Fed first needs to know for how long the tariffs will last and if there will be retaliation.
