Fed's Goolsbee (2027 voter) says we are still seeing pretty high services inflation; hopes we've seen peak impact of tariffs; the job market has been steady, only modest cooling
Importance
Level 1
- CPI data had encouraging bits, some concerns.
- Rates can still go down but need to see progress on inflation.
- Services inflation is not tame in the CPI data.
- Don't know how restrictive Fed policy is.
- Consumers should hold in if job market stable, inflation eases.
- Need to see improvement in inflation, expects to see progress.
- Higher services inflation is worrisome.
- If we're at 2% inflation, we can have several more cuts.
- Would have been wiser to wait in December 2025 (he dissented in December, wanting no change).
- We are not on a path back to 2% inflation, stuck around 3%.
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