Chicago Fed President Austan Goolsbee said the economy remained broadly stable but warned that tariffs and war-related price increases were complicating the inflation outlook.
Key Quotes Tariffs and war-related price increases are a challenge for the Fed
Political pressure on the Fed “puts me on edge”. Political interference with central banks generally leads to inflation. The economy has, on balance, been stable.
The current low-hire, low-fire job market is unusual. The biggest short-term fear is that inflation is not under control. Three-month inflation “doesn’t look terrible”.