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Goolsbee: Inflation Too High But At Least Coming Down

FED
  • Chicago Fed’s Goolsbee (’23 voter) speaking on PBS notes that inflation is at least coming down whilst some indicators point to the Fed easing inflation without a recession.
  • FOMC-dated OIS implied rates dip slightly (Dec -0.5/1bp) on the comments but broadly keep to the day’s trimming of prior cuts to a still heavy ~95bps from current levels with January’s meeting.

Bloomberg headlines:

  • GOOLSBEE: INFLATION RATE STILL TO HIGH BUT AT LEAST COMING DOWN
  • GOOLSBEE: JOBS PART OF FED MANDATE GOING WELL, INFLATION NOT
  • GOOLSBEE: HAVE SOME INDICATORS FED CAN EASE INF W/ NO RECESSION
  • GOOLSBEE: US HAS NO ALTERNATIVE BUT TO RAISE THE DEBT CEILING

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