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Fed's Goolsbee: It is entirely possible to cut in anticipation if you think inflation is on a path to 2%
Fed's Goolsbee: It is entirely possible to cut in anticipation if you think inflation is on a path to 2%, then stop or hike if information contradicts. Added at 3:06pm
- FED'S GOOLSBEE:
FED'S FALL RATE-SETTING MEETINGS WILL ALL BE LIVE
SOME JOB MARKET DATA SHOW IT'S SOLID, SOME SHOW CONCERNS
FED WOULD NEED TO CUT RATES IF LABOR MARKET IS DETERIORATING; NOT SURE THAT'S WHAT'S HAPPENING
NEED MULTIPLE MONTHS OF FAVORABLE INFLATION READING TO GET COMFORT NEEDED TO CUT RATES
SO FAR HAVE HAD A COUPLE OF MONTHS OF MILD INFLATION; LATEST CPI HAD CONCERNING RISE IN SERVICES INFLATION
UNEASY THINKING OF TARIFFS AS ONE-AND-DONE INFLATIONARY SHOCK, GIVEN LEVIES ON SEMICONDUCTORS, NEW TARIFF ANNOUNCEMENTS
WHAT UNDERLIES ECONOMY WOULD NATURALLY LEAD TO LOWER RATES
ENTIRELY POSSIBLE TO CUT IN ANTICIPATION IF YOU THINK INFLATION IS ON PATH TO 2%, THEN STOP OR HIKE IF INFORMATION CONTRADICTS
SOME IMPORTANT DATA COMING IN BEFORE FED'S SEPT MEETING, NOT IMPLYING THAT I CAN'T REACH A DECISION BY THEN
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