Inflation is the biggest problem, Fed's Goolsbee says
SPY•Goolsbee says inflation is the main concern
Federal Reserve Bank of Chicago President Austan Goolsbee, in a video that was primarily Economics 101 and did not explicitly include his monetary policy views, indicated he is more concerned about inflation now than about any labor market weakness.
"The biggest problem facing our economy right now is not the collapse of industry and the collapse of jobs; it's that the prices have been rising too fast, we got an inflation problem and people hate inflation," Goolsbee said in a video published by Wired on Tuesday.
Looking at indicators like the unemployment rate, the hiring rate and the layoff rate, he said "they say labor market is stable, without being good, is how I characterize it."
