Central Banks
Goolsbee Sees Signs Fed Can Avoid Sparking a Recession With Rate Hikes
- Need more information showing inflation is slowing down
- Fed has seen ‘some promising indicators’ of price progress
Austan Goolsbee
Photographer: Andrew Harrer/Bloomberg
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The Federal Reserve sees signs that it can avoid triggering a recession in the US even as it has raised interest rates aggressively to put the brakes on inflation, Chicago Fed President Austan Goolsbee said.
“You don’t want to land the plane nose down. So we’re trying to balance off — can we slow the inflation without sending it into a recession,” he said of the US economy in an interview Wednesday on PBS NewsHour. “We’ve had some promising indicators on that on that front, but it’s always a possibility.”