Fed Must Cut Rate Before Job Losses
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Federal Reserve BankABC News
•Top official says Federal Reserve can't risk being too late with rate cuts
85% Informative
Austan Goolsbee , president of the Federal Reserve Bank of Chicago , says Fed can't risk being too late with rate cuts.
With inflation easing, the Fed is widely expected to start cutting its benchmark rate next month .
He says the Fed 's rate decisions affect the economy only after an extended time lag.
The Fed 's key rate affects many consumer and business loan rates.
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