Federal Reserve Bank of Chicago President Austan Goolsbee Shares Positive Economic Insights

Speaking at the 38th Annual Economic Symposium, Austan Goolsbee provided an optimistic outlook on the US economy, emphasizing the stability and balance in the labor market and progress toward the 2% inflation target.

Goolsbee highlighted November's 227,000 job gains, noting that the labor market is cooling to sustainable full employment. He also pointed out the stability and balance in metrics like job vacancies compared to unemployment.

On inflation, Goolsbee acknowledged a slight rise but remained confident in progress toward the 2% target. He discussed the Fed's ongoing "transition moment," balancing whether to adopt 25 or 50 basis-point rate cuts to ensure adjustments happen at the "right time." While progress is evident, he warned that inflation above 3% would indicate the fight isn't over.