In an interview with CNBC on Friday, the president of the Federal Reserve Bank of Chicago, Austan Goolsbee, has stated that a slight recession in the US is a possibility that is definitely on the tableas reported by Reuters.
Additional comments
“When financial tightening occurs, that does the job of monetary policy.”
“We still have several weeks before the May meeting.”
“I do not want to comment yet on what I am going to do in that meeting; I still want to see the data“.
“But let’s keep in mind that we’ve gone up a lot; Some of the lag is possibly showing up in today’s retail sales number.”
“Inflation is coming down, there is still a clear stickiness in some of the inflation.”
“Producer prices and retail sales show we’re headed in the right direction“.
“I am focused on what is happening with credit conditions.”
“We are spending too much time looking at wage growth as a proxy for prices.”
“Wages are not a leading indicator of inflation“.
“We have to look at the price series, not the wages.”
“I’m going to spend the next few weeks calculating the degree of credit crunch.”
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.
