Fed's Goolsbee says the big picture is that rates are moving lower

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Stepping back from the day-to-day volatility, the bottom line is that interest rates are going to move lower, said Chicago Fed President Austan Goolsbee, on Friday.

“As long as we keep making progress toward the 2% inflation goal over the next 12 to 18 months, rates will be a lot lower than where they are now,” Goolsbee said, in an interview on CNBC.

“It has nothing to do with the election,” he added.

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