- Doesn’t see convincing evidence that the economy is overheating
- Let’s not overreact to “one number”
- Dot plots indicate that policymakers are of the view that inflation will move towards target
- The big picture is that inflation is “way down”, unemployment is at a level we are happy with
- The difference between now and the 70s is that inflation expectations never went up this time
- The market trusted the Fed’s credibility in promising that inflation will return to 2% target
The early headlines are not showing anything substantial but Goolsbee will be speaking again later in the day. So, watch out for that. As for this one, you can check out the full podcast on Spotify here.
This article was written by Justin Low at www.forexlive.com. Source