Fed’s Goolsbee: Don't think Fed independence is going away

Austan Goolsbee, President of the Federal Reserve (Fed) Bank of Chicago, said that without central bank independence, inflation will come roaring back at the Greater Rockford Chamber of Commerce in Rockford, Illinois on Tuesday.

Key takeaways:

Don't think Fed independence is going away.

Without central bank independence, inflation will come roaring back.

CPI report tells us 'not much that's good.'

Inflation is going the wrong way not just in oil-related and tariff-related things.

Drift upward in services inflation is a worry.

Today's unexpected disappointment was seeing services inflation going up.

Labor market stable, but not good.

Interconnection of private credit with conventional institutions are not as big as connections in 2007-2009 financial crisis.”