Austan Goolsbee, president of the Federal Reserve Bank (Fed) of Chicago, warned that he still wants to see more progress in inflation, but sees the possibility of worsening conditions in the manufacturing sector and agriculture. Chicago Fed Chief Goolsbee spoke at the Iowa Farm Bureau Economic Summit in Ankeny, Iowa.
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Manufacturing and agriculture feel closer to the brink of a recession.
If we continue to advance inflation and rates can come down, we could avoid a recession.
If European countries lower rates, that could boost the dollar.
A stronger Dollar would affect the export-import balance and affect employment and inflation in the US.
If future inflation behaves as it did in the first quarter, it would be difficult for us to lower rates.
The unemployment rate, the resignation rate and the proportion of jobs opened seem to indicate that the labor market is cooling.
I don’t take much cue from the monthly payroll data alone.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
