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Goolsbee calmly responds to non-farm payroll data: Federal Reserve will not overreact

On August 3, Chicago Federal Reserve President Goolsbee stressed that the Federal Reserve will not overreact to any economic report and that policymakers will have a lot of data before the Fed's next meeting. Speaking after the release of the weaker-than-expected non-farm payrolls report, Goolsbee said that the Fed's job is to figure out the "continuity" of the data and act in a "stable" manner. However, he pointed out that if the restrictive rate remains in place for too long, policymakers must...

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2024-08-02 16:25:50
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