Fed's Goolsbee: Decision last week was close call for me

• Decision last week was a close call for me
• It is a perfectly appropriate to have a reconnaissance mission now
• Trying to figure out if we have done enough, how much more needs to be done
• Over next several months will get some markers on do we have a handle on inflation
• Job numbers are extremely robust
• At the same time hours worked went down
• Over the next couple months will get a sense if goods inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term is coming down
• By the fall, housing inflation should begin falling
• We should be able to get yay ordinate readings on persistence of inflation, not just confusing signals
• I've not decided the right decision in July
• We failed to prevent inflation, feds forecasting like private forecasts was mistaken
• Inflation is pervasive around the world
• Feds framework is 'wait and see'
• Probably won't gain enough info in 6 weeks, but will learn more
• The lags argument is a tremendously important one
• it's worth recognizing how bizarre, unprecedented this pandemic has been
• Added to the 'weirdness' of the pandemic is the uncertain effect of credit tightening and the persistence of inflation
• The puzzle has been why haven't goods price come down more, and when will housing prices come down
• Services inflation has proved very persistent

The more dovish comments from Goolsbee has seemed to give the dollar a push lower.

The EURUSD is trading to a new session highs. The USDCHF, USDCAD and NZDUSD are also trading to new extremes (lower USD) for the day.