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Fed’s Goolsbee Says Latest Inflation Data Promising, But Still High
Federal Reserve Bank of Chicago President Austan Goolsbee said recent consumer-price data showing inflation easing was “promising,” though inflation is still higher than policymakers’ 2% goal. “It’s at least promising that this week we got inflation numbers that show inflation is coming down at a pretty rapid clip,” Goolsbee said Friday in an interview with Fox News. “It’s still higher than where we want it but it’s making progress.” He reiterated comments he made last week that policymakers are on a “golden path” to containing inflation without triggering recession. Fed officials are expected ... (full story)