Chicago Federal Reserve president Austan Goolsbee said on Friday that the U.S. GDP is still pretty strong and there are pockets of strength in the economy. However, the official cautioned that the Fed policymakers should not keep restrictive policy in place longer than necessary.
"You don't want to tighten any longer than you have to," Goolsbee argued. "And the reason you'd want to tighten is if you're afraid the economy is overheating," he said but added that, in his opinion, the domestic economy is not showing signs of overheating.