Goolsbee says it’s too soon to determine when Fed will cut interest rates

Chicago Federal Reserve President Austan Goolsbee on Friday declined to say when he thinks the central bank will cut interest rates, but he said reductions could be expected this year “if we continue to make surprising progress on inflation.”

“We don’t want to commit ourselves before the job is done,” Goolsbee said in an interview on CNBC. But “as inflation comes down, that opens the door to a reduction in restrictiveness.”

The…