Fed

Fed's Goolsbee (2027 voter) says he does not think Fed independence is going away

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Reiterates CPI report says "not much that's good". Without central bank independence, inflation will come roaring back. Inflation is going the wrong way, not just in oil-related and tariff related things. Drift upward in services inflation is a worry. Labour market stable, but not good. Interconnection of private credit with conventional institutions are not as big as connections in 2007-2009 financial crisis. Remains optimistic rates can come down a fair amount, but need progress on inflation.  Inflation is going up.

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