Fed's Gooslbee: I don't buy that last mile on inflation could take longer
Source Fxstreet
Jul 2, 2024 15:33
Austan Goolsbee, President of the Federal Reserve (Fed) Bank of Chicago noted on Monday that progress on the final chunk of inflation heading towards the Fed's 2% inflation target will happen faster than many expect.
Key highlights
I don't buy that the last mile on inflation could take longer.
Market-based rents are down, but not yet reflected in the data.
I still think a soft landing is possible.
I see some warning signs from the real economy weakening.
As inflation comes down, policy gets more tight.
I think we are restrictive.
I think we should tighten by choice, not default.
Only want to stay this restrictive for as long as you have to.
If we were using the measures on housing inflation that they use in Europe, we would be at 2% already.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
EUR/USD continues its winning streak, trading around 1.0790 during the Asian session on Thursday.
Investing.com-- The Japanese yen steadied near its weakest levels in 38 years on Thursday, with the currency’s latest decline and low liquidity during a U.S. market holiday sparking fresh speculation over government intervention.
Investing.com-- Oil prices fell from two-month highs in Asian trade on Thursday, as traders collected some profits from a strong run-up this week, while soft U.S. economic data raised some concerns over long-term demand.
Investing.com-- Gold prices steadied at a 10-day high in Asian trade on Thursday after growing bets on interest rate cuts by the Federal Reserve pulled down the dollar and Treasury yields.
Bitcoin continues to be incredibly bearish amid negative market headwinds but that has not stopped investors from taking their positions during this time. These large investors who are holding more
