Federal Reserve Bank of Chicago President Austan Goolsbee suggests that the Fed should consider cutting interest rates if inflation continues to decline towards the 2% target. Speaking at an event in Portugal, Goolsbee emphasized that maintaining current rates while inflation falls effectively tightens monetary policy. He believes inflation is on track to reach the 2% goal, citing recent data showing slower price increases. This stance contrasts with the Fed’s current approach of holding rates steady at a two-decade high while awaiting more conclusive evidence of inflation control.