Fed's Goolsbee (2028 Voter) says he's not surprised by low initial jobless claims numbers; Chicago Fed data showed stability in the labour market

• Low-hiring, low-firing environment does highlight business uncertainty.
• Growth has been pretty solid, driven by AI and consumer spending.
• Reiterates that the most important thing is getting inflation back to 2%.
• "Rates can still go down a fair amount".
• See rates lower down at the end of the year, than they are now.
• Within the CPI and PPI data, there is some encouragement, but are still things that get his attention.
• Recent inflation data shows a possible waning of the tariff impact.
• Non-housing services is disturbing, and healthcare inflation is also discouraging.
• Expects to see Fed rate cuts this year, but needs data to affirm outlook.
• Agrees with Powell's argument over investigation into Fed.

Fed's Goolsbee's remarks highlight a mixed outlook despite low initial jobless claims, pointing to ongoing business uncertainty and the need for inflation to return to 2%. His expectations for rate cuts later this year suggest a pivot in monetary policy, reinforcing the view that the Fed may respond to labor market stability and encouraging inflation data while remaining wary of looming challenges in non-housing services and healthcare inflation.