Fed's Goolsbee: Last six months have shown we can bring down inflation without jobs lost

<ul><li>So far we've been able to walk the golden path</li><li>The bank problems 'have been the dog that's not barking'</li><li>We have been disproving people with a stable Phillips curve mindset</li><li>This has been a strange business cycle, so normal tradeoffs don't apply</li><li>Asked about a rate hike, says he's 'not a fan of tying our hands before the data'</li><li>Notes openness to reading data ahead of Sept</li><li>Getting inflation down without higher unemployment 'would be a triumph'</li></ul><p>I don't see any reason for him to be talking about 'triumphs' and whatnot. Fed officials were quiet when it came to taking responsibility for 9% inflation but are now taking a premature victory lap for bringing it down without a recession.</p>

This article was written by Adam Button at www.forexlive.com.