Chicago Fed President Austan Goolsbee isn’t concerned about the economy running too hot and expects the labor market to stabilize, which may allow the Federal Reserve to cut interest rates again, Semafor reported late Friday,

Chicago Federal Reserve President Austan Goolsbee, however, pointed out several uncertainties and risks loom on the horizon.

"I still see continued progress" in inflation, Chicago Fed President Austan Goolsbee said on Wednesday at a Wisconsin Bankers Association event. "The trend continues to be improvement in inflation." Today's CPI number is "somewhat encouraging and partly discouraging,