On April 12, the Federal Reserve’s Goolsbee said today that the Fed should remain “cautious and patient” in raising interest rates as policymakers assess the extent to which last month’s banking turmoil will tighten lending conditions.
He said the Fed should gather further data and be cautious about raising rates too aggressively until they see how much recent headwinds are helping them in bringing inflation down.
Goolsbee, who votes on monetary policy this year, was the first to suggest he might support keeping rates on hold at the Fed’s May 2-3 meeting, though he did not explicitly support a pause in rate hikes .