Federal Reserve's Goolsbee: A reduction of 25 or 50 basis points is not as important as significantly lowering the interest rate to reach a neutral level within the next 12 months

Federal Reserve's Goolsbee stated that a 25 or 50 basis point rate cut is not as important as significantly reducing interest rates to reach a neutral level within the next 12 months. The latest inflation data has reached the Federal Reserve's target; the labor market is in full employment.