Chicago Federal Reserve President Austan Goolsbee said on Friday he now projects a shallower rate-cutting path in 2025 than he had previously, but added he still believes the U.S. central bank's policy rate will fall a "judicious amount" next year.

Fed Chair Jerome Powell said a big reason for the committee's pullback was the slower-than-expected progress on combatting inflation this year. "The single biggest factor is infla

The Fed delivered its expected quarter-point interest rate cut but trimmed projections for follow-on moves in 2025.