Fed's Goolsbee Cautious, Nervous About Economic Outlook

Chicago Fed President Austan Goolsbee said the job market is “basically stable but not great,” signaling softer labor-market momentum than a robust expansion. He warned that rising oil prices could push inflation higher in a stagflationary way, raising upside inflation risks and complicating the Fed’s policy outlook.

Analysis

Chicago Fed President Austan Goolsbee said the job market is “basically stable but not great,” signaling softer labor-market momentum than a robust expansion. He warned that rising oil prices could push inflation higher in a stagflationary way, raising upside inflation risks and complicating the Fed’s policy outlook.