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Chicago Fed Pres. Goolsbee CPI data this week was very good

Started by forex4you, Jun 16, 2024, 07:03 am

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Chicago Fed Pres. Goolsbee CPI data this week was very good

Chicago Fed Pres. Goolsbee is speaking and says:

  • CPI data this week was very good.
  • If we got a lot of months like May CPI data, we would be feeling very good
  • My feeling was relief
  • We got to see some more progress
  • We are going to get a lot of data between now and September, December meetings

Goolsbee is thought to be a dove. He is a 2025 voting member

More from Goolsbee:

  • In the near to medium term what will determine if rates go back to normal is if inflation is on its path to 2%
  • That has a 2% inflation goal and it must keep that promise
  • We are going to get to 2% inflation
  • If we get it to 2% I am fine with then having a discussion on changing the target but not until then.
  • Dynamics now look a lot more like the regular business cycle
  • if we get more months like we just saw on inflation, Fed can cut rates.
  • Pain is rising in various parts of the economy
  • if we keep making progress on inflation, and the rates can come down, we may avoid recession
  • A stronger dollar would affect export/import balance and affect US employment and inflation
  • If inflation had behaves as it did in first quarter, we would have a hard time cutting rates
  • Unemployment rate, quits rate, ratio of jobs to openings looks like labor market is calling
  • I  I don't take too much signal from the monthly payroll data by itself


                This article was written by Greg Michalowski at www.forexlive.com.

Source: Chicago Fed Pres. Goolsbee CPI data this week was very good

forexlive.com
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