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Goolsbee: Premature For Fed To Declare Mission Accomplished

FED

Chicago Fed’s Goolsbee (’23 voter) speaks to CNBC. He starts off reiterating comments from earlier in the month that Fed debate is becoming less about whether to hike rates again and more towards how long to keep rates up. Other comments are less dovish than previous remarks, however:

  • *GOOLSBEE: CHAIR POWELL SPEECH WAS 'PROPERLY SOBER' - bbg
  • *GOOLSBEE: PREMATURE FOR FED TO DECLARE 'MISSION ACCOMPLISHED' – bbg
  • *GOOLSBEE: GDP FORECASTS SUGGEST GROWTH MAY BE ACCELERATING, HAVEN'T SEEN CONSUMER SPENDING DETERIORATE – bbg
  • Sticking with the status quo, he doesn’t think the Fed should change its inflation target.

Whilst off earlier post-Powell highs, Fed terminal pricing continues to hold gains on the day with a cumulative +15.5bp for Nov'23 (+1bp since just before Powell, +2.5bp on the day) at recent highs.

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