#tarderARmalik3520 Federal Reserve's Austan Goolsbee Discusses Inflation Measures
Chicago Fed President Austan Goolsbee voted against the recent rate cut citing concerns about inflation. He believes waiting for more data especially on inflation was the wiser choice. Goolsbee stated that inflation has been above target for four and a half years and progress has stalled. Businesses and consumers cite prices as a main concern.
Goolsbee is optimistic about rates coming down significantly next year but is uncomfortable with front-loading cuts. He wants to ensure inflation is genuinely on a downward trajectory before easing policy. The labor market is stable with low hiring and low firing indicating uncertainty rather than a cyclical slowdown.
Would you like to know more about Goolsbee's views on monetary policy or inflation targeting?
How do you think the Fed's cautious approach will impact economic growth?
