In an interview with CNBC on Friday, Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee said that he has comfort that they are on the path to 2% inflation, per Reuters.
Key takeaways
“Policy uncertainties might affect prices.”
“With uncertainty should slow down as take rates toward neutral.”
“We have multiple months of solid performance of inflation right around 2%.”
“I still think rates will be lower 12-18 months from now.”
“Job market looks settled in around full employment.”
“If policy uncertainty affects prices, it affects the Fed.”
“A one-time increase in tariffs in theory is transitory, policy response may not be needed.”
“Underlying economy on excellent path.”
“I have no problem slowing pace of cutting, feeling our way toward neutral rates.”
Market reaction
The US Dollar Index clings to small daily gains and was last seen rising 0.15% on the day at 108.35.
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