Fed's Goolsbee: US GDP and labor markets are basically stable
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Chicago Fed Pres. Goolsby is on the wires saying US GDP and labor market are basically stable The weak retail sales represents one month of data Continued spending weakness could be worrying supported the July rate decision Notes is that the past two productivity data releases we
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Fed's Goolsbee: inflation has not been great. Job market is pretty much stable
The desk interprets the recent commentary from Fed's Goolsbee as indicative of a stable job market amidst persistent inflation concerns. Per the full note [source], Goolsbee emphasized that while the job market shows no signs of significant deterioration, inflation remains problematic, having reversed its downward trend. This nuanced view suggests that the Fed may need to maintain a vigilant stance on inflation, which could influence future monetary policy decisions. Our consensus target for the EUR/USD is 1.075, with a range of 1.04 to 1.12, reflecting a cautious outlook amid these mixed signals.