Chicago Federal Reserve President Austan Goolsbee stated Tuesday that progress in reducing inflation continues, while economic growth remains strong. According to him, the labor market remains vibrant, and he was more concerned about possible external shocks than about the overheating of the economy. He added that there is still some way to go before inflation reaches the 2% target set by the Fed.
Speaking at the Detroit Economic Club, Goolsbee explained that the US could see this year the fastest decline in inflation in a non-war year in a century, while keeping the unemployment rate below 4%. without increasing.
Market reaction
The US dollar maintains significant daily losses following the publication of the US Consumer Price Index report, which, according to Goolsbee, looks “pretty good.” The Dollar Index falls 1.40% and is trading at 104.15, the lowest level recorded since early September.
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.
