News Formal

Fed's Goolsbee: Job market remains the strongest part of the economy

  • 📰 FXStreetNews
  • ⏱ Reading Time:
  • 22 sec. here
  • 4 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 72%

Fed News

Centralbanks,Inflation

President of the Federal Reserve (Fed) Bank of Chicago Austan Goolsbee noted on Thursday that housing inflation remains a key sticking point in price growth, and that the US labor market remains quite strong.

President of the Federal Reserve Bank of Chicago Austan Goolsbee noted on Thursday that housing inflation remains a key sticking point in price growth, and that the US labor market remains quite strong. Chicago Fed President Goolsbee noted that inflation could fall without a meaningful increase in unemployment. Key highlights Issue now is whether the US will face a traditional trade off between inflation and unemployment.

Extremely important that the Fed hit its 2% inflation target since it has centered expectations around that number. The strongest part of the economy right now is the job market. Overall the US has had a strong post-COVID recovery. There are industries, parts of the country, and people that are hurting in the current economy. The Fed is not trying to return the price level to where it was; that would require deflation.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 14. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tight job market has a friend in the FedThe Federal Reserve is standing pat on interest rates for now, with the timing of a cut uncertain. Still, the backdrop remains supportive for the U.S. job market and the rank and file.
Source: FoxBusiness - 🏆 458. / 53 Read more »