Fed’s Goolsbee is lurking around saying that:
- Steel tariffs will raise production costs in the region.
He has spoken a few times this week. As a result, what he says will likely not impact the markets.
Yesterday, Goolsbee commented on inflation and economic conditions, stating that the upcoming PCE report is unlikely to be as sobering as the recent CPI numbers. He noted that the labor market appears stable, while credit conditions remain tight. Goolsbee expressed concern about potential supply shocks, emphasizing that while the 2018 tariffs had little impact on national inflation, larger tariff measures could have a more significant effect, comparable to COVID-era disruptions.