Chicago Fed President Austan Goolsbee said Thursday he anticipates interest rates will end up considerably lower within the next year. He cautioned that the Federal Reserve may need to decelerate rate cuts

Federal Reserve Bank of Chicago President Austan Goolsbee on Friday signaled he feels the U.S. central bank will likely end up cutting the policy rate by another quarter of a percentage point this year and a full percentage point further next year,

In September, its officials predicted that they would reduce their benchmark rate four times next year, on top of three rate cuts this year. Yet that outlook has swiftly changed. Several surprisingly strong economic reports,