The news ICYMI:
Federal Reserve Bank of Chicago President Austan Goolsbee expressed optimism in an interview on CBS’s “Face the Nation”.
- “If you did not do that, the consequences for the financial system and for the broader economy would be extremely negative”
- “Even the anticipation of these problems does have consequences on the economy, it does have consequences on financial markets.”
Looking further out, Goolsbee did not indicate whether or not he would support an interest-rate hike at the Federal Open Market Committee (FOMC) meeting on June 13-14.
He said the full impact of central bank rate increases up to now are still flowing through and had yet to be felt. Also:
- “I try … to make it a point not to prejudge and make decisions when you are still weeks out from the meeting,”
- “We are going to get a lot of important data between now and then.”
Goolsbee