Yahoo Finance's Jennifer Schonberger sat down with Chicago Fed President Austan Goolsbee to discuss Fed Chairman Jerome Powell's most recent press conference, and what Goolsbee sees for the economy in the months ahead. Here are the three main points from the discussion. #1: Inflation readings are 'murky' Goolsbee said that recent key readings from CPI and core PCE "remained higher than we want them to be" in February, but have recently come down. While promising, these readings, for Goolsbee, indicate "we're in a little bit of a murky period" in regards to CPI and core PCE data. #2: Three rate cuts 'in line' Schonberger asked Goolsbee if the Fed's decision to pencil in three rate cuts by the median this year was in line with his thinking, which Goolsbee confirmed, "the summary of economic projections is not forward guidance...we don't...deliberate on these future meetings."  #3: Breaking down 'the Taylor Rule' Goolsbee defines the Taylor Rule, a formula where "you plug in the inflation rate, you plug in the unemployment rate...it spits out, 'Here, in the past, is how the Fed has behaved.'" While a useful tool, Goolsbee warns against "being too mechanically tied to 'let's just do whatever the formula says'" in regards to the Fed's decision-making. Keep following Yahoo Finance to get all the updates on the Fed, and how it affects investors.

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