Chicago Fed president: Fed should wait to cut rates, as inflation progress has stalled
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- Опубликовано: 2 май 2024
- Chicago Fed President Austan Goolsbee says the progress the central bank had been making in bringing down inflation has "stalled." As a result, he thinks it "makes sense" to wait on rate cuts.
In remarks prepared for a speech before the Society for Advancing Business Editing and Writing's annual conference, Goolsbee says "So far in 2024, that progress on inflation has stalled. You never want to make too much of any one month’s data, especially inflation, which is a noisy series, but after three months of this, it can’t be dismissed."
Goolsbee's pivot is notable given that he has been one of the more dovish members of the Federal Reserve.
Yahoo Finance Federal Reserve Reporter Jennifer Schonberger reports the details.
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Wish granted. Would be suicide for Feds to drop interest rates now, seeing as how inflation's resisting current interest rates and all. Just saying.
Remember a time when the borders were secure, the world was at peace, gas was cheap and plentiful, groceries were affordable, mortgage interest rates were 2.5%, and the economic outlook was optimistic. I sure do miss those good old days from just over three years ago.
Three years ago there was a pandemic and lockdowns. You can keep your good old days