Fed's Goolsbee (2027 voter) says there has been some progress and some points of "warning" re. inflation, want to see more information - CNBC. Progress on the shelter side of things, still concerned about services inflation.

Inflation/Rate Path/Neutral

• The recent CPI was, partially, pulled down due to base effects.
• Hopes that the impact of tariffs is a one time thing on inflation; could be a "yes", if it doesn't move through to services.
• Still several more rate cuts that could happen in 2026. But, need to see progress on data.
• Says, if inflation runs persistently high, then they are being looser than they otherwise would be. Sees 3% as a "loose" neutral estimate.

Warsh Nomination

• Big fan of him, known him for a long time. Thing he is a reputable person.