Fed’s Goolsbee in an interview on FOXBusiness says:
- There is nothing in the Fed’s mandate about stock prices.
- I hope markets remain sober.
- SVB bet the market was right on Fed, bet against the Fed, a terrible idea.
- Central bankers have to see through the markets ups and downs
- The strongest part of the economic data is labor market data.
- I am hopeful we can get inflation down to something like a target without a recession.
- Heartened by strength in various sectors, but we need more balance.
- If labor market is too hard, will have a hard time bringing down inflation.
- There has been calling inflation.
- Goods inflation has not come down as fast as have wanted it to.
- There is a lag in the impact of interest rate on the economy.
- Not made up his mind on rates.
- There is a number of data releases before the next Fed meeting (*the next Fed rate decisions on July 26)
Goolsbee is the president of the Chicago Fed and is more of a dove.