Federal Reserve's Goolsbee stated that he expects the Federal Reserve will continue to cut interest rates to achieve a goal that neither restricts nor stimulates economic activity. Goolsbee said, "Unless there is compelling evidence that the economy is overheating, I see no reason not to continue lowering the federal funds rate." "The pace of rate cuts depends on the outlook and conditions. But in my view, we are on a clear path that will lead to lower rates, closer to the neutral rate." He said that his forecast for the neutral rate is close to the median estimate of officials, which was 2.9% in the September forecast. Goolsbee noted that the overall situation in recent months is that inflation has often been below expectations, but has not been significantly above the 2% target.