Fed's Goolsbee: Fed needs to 'recalibrate' policy
Last week, the Fed's Goolsbee said in an interview with The Wall Street Journal that after a series of higher-than-expected inflation data, the Fed must "re-adjust" its policy. Goolsbee believes that one month is equivalent to zero, but "three months" is at least "a real month." "After experiencing six or seven months of very strong improvement and nearly 2% inflation, what we see now is inflation far above this level. We must readjust, we must wait and see." This statement echoed his comments last Friday: "So far, progress on inflation in 2024 has stalled. People will not overly emphasize any month's data, especially inflation, but similar situations for three months cannot be ignored."
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