Chicago Federal Reserve President Austan Goolsbee reiterated that interest rates could be lowered further by 2026 if more evidence emerges that inflation is moving toward the Fed's 2% target.

Goolsbee stated in an interview on Thursday, "As long as we continue to see the progress on inflation that people are forecasting, I have some confidence that rates could be lowered a few more times this year."

He added, "I just don’t want to get too far ahead of ourselves before we actually have the evidence that inflation is moving back toward the level we want."