Fed's Goolsbee says inflation is well above target and is going the wrong way
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Chicago Federal Reserve President Austan Goolsbee said he has no regrets about his dissent at the most recent policy meeting, and that financial markets have remained stable in its aftermath. Speaking on Marketplace Radio, Goolsbee acknowledged that inflation is running well abov
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4 itemsFed's Goolsbee: Inflation is going the wrong way
Fed's Goolsbee:Inflation is going the wrong way, not just in oil and tariff related things
The desk interprets recent comments from Fed's Goolsbee as indicative of a more hawkish stance on inflation, particularly concerning services inflation. Per the full note [source], Goolsbee highlighted that inflation is not only driven by oil prices and tariffs but is also rising in the services sector, which presents a significant concern. This shift in tone suggests that the Fed may need to maintain a tighter monetary policy for longer than previously anticipated. The current consensus among firms indicates a target for the USD at 1.075, with expectations of continued volatility in the FX market as traders digest these insights.