Central Banks
Goolsbee Says Fed on Path to Curb Inflation Without Triggering Recession
- Jobs market remains very strong despite cooling, he says
- Employment numbers are more sustainable, supporting inflation
Austan Goolsbee
Photographer: Patrick T. Fallon/Bloomberg
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Federal Reserve Bank of Chicago President Austan Goolsbee said policymakers are on a “golden path” to ease price growth without triggering a recession in the world’s biggest economy, as data out Friday showed a slowdown in what remains a strong labor market.
“We’re getting to a more sustainable pace, which is what we need to do for inflation,” Goolsbee said of the jobs data in an interview on CNBC Friday. “The Fed’s overriding goal right now is to get inflation down — we’re going to succeed at it. And to do that without a recession would be a triumph, and that’s the golden path — and I feel like we’re on that golden path.”