Federal Reserve Bank of Chicago President Austan Goolsbee said on Wednesday that he becomes more worried about the labor market than inflation, citing recent progress on price pressures and weak jobs data, per Bloomberg

Key quotes

It's important that we not assume that if the labor market were to deteriorate past normal, that we could react and fix that, once it's already broken.

Inflation, it’s clear, has been coming down for some time, and we’re quite restrictive. 

Economic conditions will warrant the size of rate cuts