Fed's Goolsbee: Keeping interest rates high while inflation falls is equivalent to tightening policy

On August 19th, according to Jin10 News, Chicago Fed President Charles Evans said in an interview that credit conditions in the United States are tightening. Although it is still uncertain whether the Fed will cut interest rates next month as the market generally expects, if it does not, it may harm the job market. He said: "When you set interest rates as high as they are now and keep them at that level when inflation is falling, you are actually tightening policy." Although there are positive and concerning aspects to economic data, he stated that "if monetary policy remains too tight for too long, the Fed's mission in terms of employment will be in trouble."