Austan Goolsbee

Fed's Goolsbee in an interview on FOXBusiness says:

  • There is nothing in the Fed's mandate about stock prices.
  • I hope markets remain sober.
  • SVB bet the market was right on Fed, bet against the Fed, a terrible idea.
  • Central bankers have to see through the markets ups and downs
  • The strongest part of the economic data is labor market data.
  • I am hopeful we can get inflation down to something like a target without a recession.
  • Heartened by strength in various sectors, but we need more balance.
  • If labor market is too hard, will have a hard time bringing down inflation.
  • There has been calling inflation.
  • Goods inflation has not come down as fast as have wanted it to.
  • There is a lag in the impact of interest rate on the economy.
  • Not made up his mind on rates.
  • There is a number of data releases before the next Fed meeting (*the next Fed rate decisions on July 26)

Goolsbee is the president of the Chicago Fed and is more of a dove.