Chicago Fed President Goolsbee identifies high housing inflation as a threat to lowering overall inflation to the 2% target.
Chicago Federal Reserve President Austan Goolsbee has identified high inflation in housing services as the biggest threat to the US central bank's efforts to lower inflation to its 2% target rate. If housing inflation does not decrease, it will be challenging to bring overall inflation back to the 2% target. The Fed is assessing economic data and considering when to start reducing its benchmark overnight interest rate. Despite concerns about inflation, Goolsbee and other policymakers still expect at least three rate cuts this year.
April 04, 2024
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