Goolsbee: Still feels confident about reaching the "golden path" of a soft landing

<ul><li>Feels confident about a soft landing</li><li>Nothing has happened in the last 2 months to make me think that the "golden path" is not attainable</li><li>I don't like to speculate on the future Fed action</li><li>It does feel like we are in a period where conditions continue to go as they have over the last couple of months, our argument will go toward how long do we keep rates at the same level</li><li>We have a couple of good months on improvement in inflation</li><li>There is still a long way to go</li><li>So far it seems like credit tightening has not materialized from banking issues</li><li>If the longer rates are going and it gives some constraint to the economy, maybe that is okay</li><li>Rise in bond yields may not be issue for economy</li><li>We can't observe what the legs are we just have to wait and see</li><li>We haven't seen consumer spending deteriorate like you'd normally see given the rise in yields</li><li>Some part of the consumer spending might be due to the pent-up demand from the supply constraints</li><li>Inflation is really not down to 3%. There is energy that can move around a lot.</li><li>I am in comfortable of declaring victory with inflation near 3%</li><li>I don't think you can change the inflation target until you hit it. I think you have to go all the way.</li><li>I am willing to be patient in getting to a 2% target</li></ul>

This article was written by Greg Michalowski at www.forexlive.com.