Federal Reserve Bank of Chicago President Austan Goolsbee said inflation, not a weakening labor market, is the biggest problem facing the U.S. economy right now. He made the point in a video that mostly covered basic economics rather than his outlook on monetary policy.
Federal Reserve Bank of Chicago President Austan Goolsbee said the biggest problem facing the economy is rising prices, not a collapse in industry or jobs. He made the comment in a video published by Wired on Tuesday that mostly covered basic economics rather than his outlook on monetary policy.
According to Reuters: "we got an inflation problem and people hate inflation," Goolsbee said.
Looking at the unemployment rate, the hiring rate and the layoff rate, Goolsbee said those gauges point to a labor market that is stable, but not good.
Source: Economy News
Trading involves risk.
Risk Disclaimer
