Goolsbee says steady jobs market keeps inflation as Fed priority

Chicago Fed President Austan Goolsbee stated that the US labour market remains steady, with recent jobs data showing no significant changes. This steady jobs market is a key factor in the Federal Reserve's decision-making process, particularly when it comes to inflation. The Fed's priority remains controlling inflation, which remains a bigger policy concern despite the steady labour market. This means the Fed is likely to keep interest rates steady for now, waiting for stronger evidence that inflation is moving towards its 2% target.

Why it matters

The Chicago Fed President has stated that persistent inflation remains a bigger policy concern, which could lead to further rate hikes. This suggests that the Fed is still focused on controlling inflation, which could impact the US economy and markets.

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