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FED'S GOOLSBEE ON GOVERNMENT SHUTDOWN EFFECTS
Chicago Fed's Austan Goolsbee said short-term government shutdowns typically have limited economic impact, but the outcome depends on how long and wide the shutdown is.
Key points:
- Shutdown impact varies with duration and scope
- Hopes tariffs will only cause a brief, moderate price increase
- U.S. labor market remains stable
- Current period marked by unusually low hiring and layoffs
Goolsbee also hopes tariffs will only temporarily raise inflation, after new tariffs were announced on various goods including cabinets and lumber.
FED'S GOOLSBEE ON GOVERNMENT SHUTDOWN EFFECTS
Chicago Fed's Austan Goolsbee said short-term government shutdowns typically have limited economic impact, but the outcome depends on how long and wide the shutdown is.
Key points:
- Shutdown impact varies with duration and scope
- Hopes tariffs will only cause a brief, moderate price increase
- U.S. labor market remains stable
- Current period marked by unusually low hiring and layoffs
Goolsbee also hopes tariffs will only temporarily raise inflation, after new tariffs were announced on various goods including cabinets and lumber.