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.

This article was written by Greg Michalowski at Source