Federal Reserve Goolsby: Labor market has stabilized, or the pace of interest rate cuts needs to be slowed down

Chicago Fed President John Goolsbee on Thursday reiterated his support for further rate cuts and was open to moving at a slower pace, underscoring the focus of the debate among Fed policymakers that the question is not whether to cut rates, but how fast and how much. Fed policymakers will meet on December 17-18 to decide whether to cut policy rates again or wait until next year. Financial marekt believes the decision process will be difficult, with the interest rate futures market putting the probability of a 25 basis point cut at about 55% and the probability of not cutting rates at 45%.