Fed's Goolsbee (2027 voter) says on PBS NewsHour that CPI was bordering on disturbing and they have real issues on their hands, adds they are going to have to deal with that
ORIGINAL · NewsquawkFed's Goolsbee (2027 voter) says on PBS NewsHour that CPI was bordering on disturbing and they have real issues on their hands, adds they are going to have to deal with thatRead originalHide original
Says: Most troubling is that services inflation is not coming down. Inflation is both cost-side and demand-side driven. His fear is starting to see overall overheating prices of a whole bunch of things. At the same time, job market is steady and stable. Will have to come to terms with it if inflation stays persistent and it's a major concern if inflation gets built into expectations. Everything is always on the table and we must get inflation down to the target.
Goolsbee flagged persistent services inflation and potential overheating, while describing the job market as steady and stable and reiterating the need to bring inflation to target.
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Says: Most troubling is that services inflation is not coming down. Inflation is both cost-side and demand-side driven. His fear is starting to see overall overheating prices of a whole bunch of things. At the same time, job market is steady and stable. Will have to come to terms with it if inflation stays persistent and it's a major concern if inflation gets built into expectations. Everything is always on the table and we must get inflation down to the target.
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