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Goolsbee: Closet Optimist On Outlook

FED
Chicago Fed's Goolsbee ('23 voter) spoke to Reuters, sticking to recent relatively dovish remarks.
  • "I'm kind of, I'm closet optimistic ... my forecast is that we manage this, that we walk the fine line of the path that we get inflation down, not immediately but at a reasonable pace without a big, a huge increase, in unemployment," Goolsbee told Reuters on Tuesday.
  • "Many of these recent meetings have been... close calls, I'd say" ... "We are trying to manage the transition point, and that's always the hardest thing, when you are trying to get the timing right."
  • On today’s JOLTS data: "That is consistent with what we're hearing from business contacts at the Fed -- what we're seeing in the other labor market data -- which is, it is still a very strong market, but it's cooling to a more balanced place,"
  • The Fed's September rate call will depend on what happens with inflation, as will how long the Fed will keep rates high and when it will start cutting, he said.
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