Fed's Goolsbee: We hit an inflation bump this year, now we wait

Joshua Gibson FXStreet

Chicago Federal Reserve (Fed) President Austan D. Goolsbee added his voice to the procession of Fed officials commenting on interest rates and inflation on Friday. Chicago Fed President Goolsbee spoke at the Economic Club of Minnesota.

Key highlights

Fed's 2% inflation target acts as an anchor on expectations.

At this time not much evidence that inflation is stalling out at 3%.

We hit an inflation bump this year, and now we wait.

We're relatively restrictive on policy.

Goolsbee is hesitant to focus too much on the recent inflation data; we've made a lot of progress.

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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