Fed's Goolsbee: I don't think inflation will get stuck above 2%

Market news

23 August 2024

Fed's Goolsbee: I don't think inflation will get stuck above 2%

Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee noted on Friday that the Fed has seen broad success in achieving its goals, and that inflation should continue to head towards the US central bank's target range.

Key highlights

I support the Fed's new focus on the job markets.

Inflation is on a path to 2%.

Policy is now at its tightest point of the entire hike cycle.

Everything we wanted to happen to get rates down, has happened.

By almost all measures, the job market is cooling.

I don't think inflation will get stuck above 2%.

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