Fed’s Goolsbee: June CPI inflation data was “surprisingly benign”
Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee said on Tuesday that the June Consumer Price Index (CPI) report was encouraging but cautioned against overreacting to a single month of data. Goolsbee spoke during a fireside chat at the Kenosha Area Business Alliance Business Lunch event in Wisconsin.
Key takeaways:
June CPI inflation data was “surprisingly benign.”
Policymakers should never overreact to one month of inflation data.
Several consecutive months of similar inflation readings would make Goolsbee feel more confident.
Services inflation has remained “way too high.”
The latest services inflation reading was encouraging.
Several months of Personal Consumption Expenditures (PCE) inflation resembling the June CPI report would make Goolsbee feel “a lot better.”
The US labor market is stable “without being good.”
.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Australian Dollar declines to near 0.7150 as hot US inflation data boost case for Fed rate hike
The AI super bull market still has room for imagination, but Wall Street has quietly prepared "two types of insurance": to guard against slow declines eroding returns, as well as to protect from sudden crashes.
Due to rising interest rates and oil prices causing the stock market rally to stall, investors are divided—some worry about a rapid sell-off, while others are concerned about a slow market decline. Some traders have become more creative with bearish strategies, such as buying put options on the Chicago Board Options Exchange Volatility Index or the S&P 500, or using double binary options to bet on a gradual price drop.
Sui trades near $0.72 as TD Sequential flashes buy signal, support zone in focus
Crypto prices
More
