Fed’s Goolsbee calls jobs report ‘superb,’ still sees rate cuts ahead

(Reuters) – Chicago Federal Reserve Bank President Austan Goolsbee on Friday called the latest job market report “superb” and said more such reports would boost his confidence the U.S. economy is at full employment, with low inflation.

Still, Goolsbee told Bloomberg TV, the job market by a broad set of measures is cooling and there are even some signs that inflation could undershoot the Fed’s target. The Fed’s policy rate is way above what most policymakers see as the eventual “settling point” for the Fed’s policy rate and needs to come down a lot over next 12-18 months, Goolsbee said.