Gulsbi: Interest rate cuts need to wait for inflation to decline, and the expectation of improved productivity is insufficient to support it

According to Jin Ten, Fed's Goolsbee stated that it is still too early to bet that increased productivity can lower inflation, and that it is only appropriate to cut interest rates when inflation decreases. He expects that there may be a rate cut this year, but only if inflation returns to the Fed's target level. Goolsbee pointed out that it is unclear whether current interest rates are restrictive, and caution is needed, as cutting rates too early may lead to an overheating economy.