Fed's Goolsbee: Fed needs to “recalibrate” policy

Fed Goolsbee said in an interview with the Wall Street Journal last week, after a series of expected excessive data, the Fed must “readjust” policy. According to Goolsbee, the next move will be zero, but “three months” is a “solid month.” “After six or seven months of at least very dramatic improvement and near 2% inflation, and now seeing that we're well into that level of greed, we have to recalibrate, we have to wait and see.” This call for greed answers our greed from last Friday, “Also, in 2024, progress on the greed front has been wildly unpredictable. One does not place undue weight on any one month's data, especially inflation, but a three-month analog cannot be ignored.”