Fed's Hammack: The labour market has been gradually cooling, but inflation is above target

Fed's Paulson: Still more concerned by the labor market than inflation FED’S PAULSON: INFLATION TOO HIGH, JOB MARKET ‘BENDING, BUT NOT BREAKING’ FED’S PAULSON: CURRENT FED POLICY ‘SOMEWHAT RESTRICTIVE,’ SHOULD MODERATE INFLATION Economic Outlook Thank you, John. And thank you, Mike. I’m looking forward to taking your questions in a few minutes. It is great to be in Wilmington, and I want to thank the Delaware Chamber for inviting me to speak today. This is my first time in Delaware since joining the Philly Fed back in July. I have heard a lot about how the Philly Fed has benefited from productive relationships with many of you over the years. I look forward to many years of continued partnership. Before we jump into the Q&A, I’d like to take a few minutes to describe how I see the economy and what this means for monetary policy. With the end of the year quickly approaching, this is a good time to take stock, looking back at how the economy has evolved over the last year or so and also at what may lie ahead. Before I begin, let me remind everyone that these are my own views and do not necessarily reflect those of my colleagues on the Federal Op

CHI FED'S GOOLSBEE Q&A: THE NEW CHICAGO FED LABOR MARKET INDICATORS HAVE PROVEN TO BE REMARKABLY ACCURATE BUT STILL MUST HAVE THE BLS JOBS DATA #Goolsbee #FederalReserve #economy CHI FED'S GOOLSBEE Q&A: DISSENT WAS ROOTED IN FACT THAT INFLATION HAS BEEN GOING UP LAST SIX MONTHS, PARTICULARLY FOR SERVICES WHICH IS NOT TARIFFS #Goolsbee #FederalReserve #economy CHI FED'S GOOLSBEE Q&A: JOB MKT HAS SHOWN A LITTLE WEAKNESS BUT MOST METRICS STABLE; JOB OPENINGS 'ACTUALLY RISING' #Goolsbee #FederalReserve #economy FED'S GOOLSBEE: DISSENT WASN'T ABOUT BEING HAWK BECAUSE I'M NOT GOOLSBEE: I'M NOT SAYING WE CAN'T CONSIDER CUTS FOR A LONG TIME CHI FED'S GOOLSBEE Q&A: WHEN PAYROLLS ARE UP 40,000 PLUS OR MINUS 105,000 MEANS 'GOING TO GET A LOT OF NEGATIVES' #Goolsbee #FederalReserve #economy

Fed's Goolsbee: To have both low hiring and low firing does not suggest a cyclical downturn. Fed's Goolsbee: I am not hawkish on rates for next year. Fed's Goolsbee: I'm one of the most optimistic folks in the dot plot. Fed's Goolsbee: There is nothing wrong with the argument that inflation will fall next year, but we need to be more certain. *GOOLSBEE: I'M PROJECTING MORE RATE CUTS THAN MEDIAN FOR 2026