Chicago Fed President Austan Goolsbee stressed that the September rate hike is uncertain and nothing is off the table.
Fed member Austan Goolsbee is optimistic that a recession will not occur. Chicago Fed President Goolsbee said the U.S. economy “seems to be on a golden path” with inflation lowered without falling into recession. Goolsbee said he has yet to make a decision for the September rate meeting.
Goolsbee said it’s tracking new monthly data for core inflation for both goods and services and housing. Noting that they expect higher rents to start falling in inflation data depending on how inflation indices are calculated, “everything we’re going to achieve in reducing services inflation in the near term is just an added bonus in a sense because we’ve always thought inflation is the stickiest part, actually some progress is expected on that front.” And we saw it, it’s a nice bonus.”