Chicago Fed head Goolsbee says ‘too early to declare victory’ on economic ‘soft landing’

<p>Federal Reserve Bank of Chicago President Austan Goolsbee spoke in an interview on US TV on Sunday, CBS’s “Face the Nation”. It was a soft sort of piece for a wide audience and Goolsbee didn't drop anything unexpected or controversial:</p><ul><li>

“We still get one more month of data, but 2023 looks like it’s going to end up being a very substantial reduction in inflation without a big increase in the unemployment rate, that’s the golden path that I talked about, but we’re still above the target,” </li><li>“We gotta get inflation down to target before it … until we are convinced that we’re on path to that … it’s an overstatement to, to be counting the chickens.”</li></ul><p>Of concern are:</p><ul><li>there are still numerous “concerning data points” that may I'mpact the "landing</li><li>“You see delinquencies going up on for both credit card debt, auto lending and small business lending"</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.