Fed’s Goolsbee: Makes sense to wait to get more clarity before moving

Federal Reserve Bank of Chicago President Austan Goolsbee argued on Friday that it would make sense to wait to get more clarity on the inflation outlook before taking a policy step.

Key takeaways

“Progress on US inflation has stalled.”

“Fed’s current restrictive monetary policy is appropriate.”

“Proper Fed policy going forward will depend on the data.”

“Still hopeful for return to improvement on inflation in months ahead.”

“Persistently high housing inflation is main short-run problem.”

“There is more space for progress on services inflation from labor supply increases.”

“Need to determine if strong GDP, jobs numbers are a sign of overheating that is driving up inflation.”

“Not all data suggest labor-market overheating.”

Market reaction

The US Dollar Index stays in negative territory near 106.00 following these comments.