Chicago Fed's Goolsbee calls May's inflation report 'very good,' but more data needed
==========
Federal Reserve Bank of Chicago President Austan Goolsbee called May's inflation data 'very good,' but more months of softer readings will be needed before the central bank can claim victory and potentially start easing monetary policy. Goolsbee said that more reports like May's, which came in flat, will help with the Fed's overall confidence on inflation. He emphasized that more progress on inflation is needed before making any decision on a potential rate reduction. Goolsbee also mentioned that the U.S. dollar could see further strength as European countries cut borrowing costs, but a stronger dollar would impact the export-import balance as well as overall employment and inflation. He noted that credit delinquencies have been on the upswing, though not to levels that scream recession. Goolsbee said he would be open to having a discussion on changing the Fed's inflation target, but not until it's achieved.
#FederalReserve #Inflation #MonetaryPolicy #AustanGoolsbee
https://seekingalpha.com/news/4116382-chicago-feds-goolsbee-calls-mays-inflation-report-very-good-but-more-data-needed
Seeking Alpha /
npub1qpf…damf
2024-06-14 21:02:32
Author Public Key
npub1qpfrthtcf6g8grmwfv45qf28aa4xqk73pgnmwjdfuze8zl2l2cnsewdamfPublished at
2024-06-14 21:02:32Event JSON
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"content": "Chicago Fed's Goolsbee calls May's inflation report 'very good,' but more data needed\n==========\n\nFederal Reserve Bank of Chicago President Austan Goolsbee called May's inflation data 'very good,' but more months of softer readings will be needed before the central bank can claim victory and potentially start easing monetary policy. Goolsbee said that more reports like May's, which came in flat, will help with the Fed's overall confidence on inflation. He emphasized that more progress on inflation is needed before making any decision on a potential rate reduction. Goolsbee also mentioned that the U.S. dollar could see further strength as European countries cut borrowing costs, but a stronger dollar would impact the export-import balance as well as overall employment and inflation. He noted that credit delinquencies have been on the upswing, though not to levels that scream recession. Goolsbee said he would be open to having a discussion on changing the Fed's inflation target, but not until it's achieved.\n\n#FederalReserve #Inflation #MonetaryPolicy #AustanGoolsbee\n\nhttps://seekingalpha.com/news/4116382-chicago-feds-goolsbee-calls-mays-inflation-report-very-good-but-more-data-needed",
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