TREASURIES-US yields rise as Fed’s Goolsbee pushes back on rate-cut pricing

(Updated at 1500 EST) By Karen Brettell Dec 18 (Reuters) – Longer-dated U.S. Treasury yields rose on Monday after Chicago Federal Reserve President Austan Goolsbee pushed back against market pricing of interest rate cuts, after Fed Chair Jerome Powell was last week seen as unexpectedly dovish on future policy moves. Yields had dropped after Powell said at the conclusion of the Federal Reserve’s meeting on Wednesday that the U.S. central bank’s tightening of monetary policy is likely over as inflation falls faster than expected and with a discussion of cuts in borrowing costs coming “into view.” Updated interest rate projections of Fed officials also showed an expectation for 75 basis points of cuts in 2024. But Goolsbee said on Monday that the Fed is not precommiting to cutting interest rates soon, and the jump in market expectations that it will do so is at odds with how the U.S. central bank functions. It comes after New York…