- Highlights what ‘appears to be a cooling in consumer spending’
- It’s worth asking where we are on our restriction scale
- If we get more “months” like the last one on inflation, coupled with weaker data, then you’ll have to start wondering where we should be on rates.
- Optimistic we will see an improvement in inflation data
- I hope the Fed will have more confidence in inflation returning to 2%
- In the second half of last year, we had fantastic dual mandate performance. At the beginning of this year, we saw inflation pick up and we tried to understand that. Is this a sign of overheating or is this a sign of overheating? just an incident?
“If we get more months, like what we just saw last month on inflation, coupled with a slowdown in conditions in some other sectors of the real economy, then we will have to start asking ourselves whether we should stay as restrictive as we are. I was,” Goolsbee told CNBC.
Some say this decision was conciliatory and that it weighs on the dollar, but bonds are not moving, so I don’t believe it. This is consistent with what Goolsbee has said previously and he projects a fairly long timeline for reductions here.
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