Fed's Goolsbee: Fed must respond to high unemployment by law

Goolsbee, president of the Chicago Fed and a 2025 FOMC voting member, said in an interview with Bloomberg TV that one should not overreact to one month's data. The Federal Reserve is required by law to respond to high unemployment rates. If the unemployment rate rises above 4.1%, the Federal Reserve must respond to this situation. It will be the economic situation that determines the extent of the interest rate cut or whether to take action. (Jinshi)