Fed Goolsbee
Austin Goolsbee
  • The more jobs reports you get like this, the more confident we can be the economy isn't overheating
  • Hit a bump in inflation at the start of the year
  • The more we see jobs reports that look like pre-covid, the more confidence that there is that the economy is not overheating
  • The Fed must get comfort that recent inflation is not a sign of re-acceleration
  • What happened in the jobs market this year has to be reset based on estimates of higher immigration but we're still trying to analyze that
  • We have some cross-currents, there's no question about that
  • Are we on the long arc of last year where we saw inflation steadily coming down or some different environment?
  • If we remain this restrictive for too long, we're definitely going to he have to be thinking about the employment side of the mandate
  • Manufacturing business contacts indicate 'more of the same' in a decent environment
  • We don't hear much input about supply chain bottlenecks anymore
  • We didn't have an advanced look at the jobs numbers

He didn't offer much here and the market didn't react to his comments.