Chicago Federal Reserve (Fed) President Austan D. Goolsbee added his voice to the procession of Fed officials commenting on interest rates and inflation on Friday. Chicago Fed President Goolsbee spoke at the Economic Club of Minnesota.
Key highlights
Fed's 2% inflation target acts as an anchor on expectations.
At this time not much evidence that inflation is stalling out at 3%.
We hit an inflation bump this year, and now we wait.
We're relatively restrictive on policy.
Goolsbee is hesitant to focus too much on the recent inflation data; we've made a lot of progress.
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