FED’S GOOLSBEE: TOO EARLY TO DECLARE VICTORY OVER INFLATION
Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee said on Sunday in an interview on CBS that it’s premature to declare victory in the central bank’s inflation fight, and the decisions on interest-rate cuts would be dependent on economic data.
Key quotes
“We still get one more month of data, but 2023 looks like it’s going to end up being a very substantial reduction in inflation without a big increase in the unemployment rate, that’s the golden path that I talked about, but we’re still above the target,”
“We’ve got to get inflation down to target,”
“Until we’re convinced that we’re on the path to that, it’s an overstatement to be counting the chickens.”
“You see delinquencies going up on for both credit card debt, auto lending and small business lending
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