ICYMI - Fed's Goolsbee say FOMC is pausing for now to go scope out economic developments

Federal Reserve Federal Reserve The Federal Reserve System, more commonly known as the Fed, represents the central banking system of the United States. Like other central banks globally, the Fed is responsible for monetary policy, in this case in the US.The Fed is one of the most watched and followed entities for forex traders, given its material impact on the US dollar. Founded initially in 1913, the Fed was created to perform a wide range of functions. This includes stabilizing and maintaining flexible monetary policy in the The Federal Reserve System, more commonly known as the Fed, represents the central banking system of the United States. Like other central banks globally, the Fed is responsible for monetary policy, in this case in the US.The Fed is one of the most watched and followed entities for forex traders, given its material impact on the US dollar. Founded initially in 1913, the Fed was created to perform a wide range of functions. This includes stabilizing and maintaining flexible monetary policy in the Read this Term Bank of Chicago President Austan Goolsbee spoke in an interview late on Friday in an interview on US National Public Radio.

Goolsbee tends towards the less hawkish of the Federal Open Market Committee (FOMC) spectrum. His comments were not overtly dovish, he leaned towards further rate hikes and data dependence. Remarks:

• "There are conflicting pieces of evidence coming in on the economy: are we too hot and need more, have we done enough by raising the interest rate five full percentage points over the last year?"
• "We just going to have play it by ear, I guess,"
• "For me, the forecast is pretty benign, and the question is, are we on that golden path, or not," (re cooling 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 without starting a substantial recession).

More specifically on the FOMC on-hold rate decisions at the June meeting last week:

• “I think of it as a reconnaissance mission, pausing now to go scope it out before charging up the hill another time,”

NPR have provided the full transcript of the interview here if you are interested.