Fedโs Goolsbee Says Path to 2% โUnlikely to Be Painlessโ
Federal Reserve Bank of Chicago President Austan Goolsbee warns that the central bank cannot ignore repeated and persistent supply shocks and must respond in a way that may cause economic hardship. Goolsbee calls it โexactly the kind of painful trade-off between employment and inflation that stagflationary shocks always impose on the central bank.โ He spoke Monday in London. (Source: Bloomberg)