Chicago Fed President Austin Goolsbee
- Seems jobs are settling around full employment
- Appearance that inflation process has stalled is largely due to base effects
- View of the economy is full employment, ongoing growth and inflation likely to fall to 2%
- Added uncertainty makes the environment for the Fed foggier, a reason to slow the pace of cuts
- Would watch PPI and listen to industrial contacts in monitoring tariff effects
He paints a good picture of the economy and that's particularly comforting given that Fed funds are at 4.25-4.50%.
