Federal Reserve Bank of Chicago President Austan Goolsbee, at the dovish end of the Federal Open Market Committee (FOMC) spectrum, with not very dovish remarks, he is clearly in the ‘wait and see’ camp:
- Before April 2 Liberation Day tariffs the hard data on the economy was looking solid
- Since then there has been potential disruption, ambiguity, that the Fed needs to resolve
- Says does not understand arguments the Fed should cut rates to make government debt cheaper, mandate is on jobs and prices
- The Fed building is not a luxury building
- The buildings need to be renovated and done so with a high level of security
- Not a lot of indication that tariffs have yet pushed up inflation
- Businesses in the Midwest are still uncertain about what is to come
Was speaking an interview with CNN
Fed’s Goolsbee says mandate is infl, jobs. Its not cutting rates to make govt debt cheaper
