Federal Reserve Bank of Chicago President Austan Goolsbee:
The Fed watches the markets, but they don’t drive policy.The question is if
the job market will hold, or keep worsening. We need to see more
than payrolls and more than one month.We are getting back to more normal conditions in the US economyPolicy is tightWhatever the Fed does, someone is going to be unhappyAll the Fed can do is lay out the criteria for rates to go down, or stay the same, or go upWe’ve been clear about the reaction function,. we are not in the business of politics
Goolsbee spoke earlier this week:
Fed’s Goolsbee: Jobs numbers are weaker but it’s not looking yet like a recession
Nothing market moving in his comments here.
This article was written by Eamonn Sheridan at www.forexlive.com.
