Fed's Goolsbee comments on today's NFP data!

6:47 pm 4 August 2023

FED banker, Austan Goolsbee, commented on today's NFP data and the current macro situation in the context of FED's monetary policy:

  • the FED will remain at restrictive interest rate levels for an extended period in the coming year;
  • NFP data came in line with expectations; the banker considers them comfortable;
  • the FED is on track to bring inflation to the target levels of 2%;
  • the labor market is slowing down a bit, but it remains extremely strong;
  • the banker is not surprised that wages are growing but will keep an eye on them;
  • the recent CPI readings were positive (promising data);
  • we should start thinking about how long to maintain interest rates;
  • the banker hopes to achieve a soft landing for the economy in the current tightening cycle.

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