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