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Chicago Federal Reserve (Fed) President Austan Goolsbee commented in a CNBC interview at the Jackson Hole Symposium on Friday that he agreed with Fed Chair Kevin Warsh about the details of the economy, adding that “inflation is the Fed’s main issue right now.”
Goolsbee added that “inflation persists longer than expected,” and when asked about the number of FOMC meetings, he said he doesn’t have a strong opinion on the topic.
Key highlights:
AGREED WITH WARSH ABOUT DETAILS OF ECONOMY
AGREES INFLATION IS FED’S MAIN ISSUE RIGHT NOW
PRETTY CLEAR THAT INFLATION FROM OVERHEATED DEMAND IS HARD TO ADDRESS
INFLATION HAS CONTINUED FOR LONGER THAN EXPECTED
WAS OK WITH HOLDING RATES STEADY AT JULY FOMC
DOESN’T HAVE STRONG OPINION ABOUT NUMBER OF FOMC MEETINGS
DOESN’T THINK FED AND TREASURY ARE AT CROSS PURPOSES
