Inflation Is 'Topic of the Moment,' Says Fed's Goolsbee

Summary

Federal Reserve Bank of Chicago President Austan Goolsbee comments on the latest jobs report, calling it stable, but highlights inflation as the main concern. He notes stalled progress on inflation and added uncertainties from tariffs and oil shocks, making him less optimistic about rate cuts.

• Goolsbee describes the jobs report as a 'pretty stable month' with decent payroll growth.
• Unemployment rate remains stable and is not a current worry.
• Inflation is the 'topic of the moment' for policymakers.
• Progress on inflation stalled last year and has not resumed.
• Tariffs and oil shocks add uncertainty to the inflation outlook.
• Goolsbee is less optimistic about rate cuts until inflation clarity emerges.
• He reiterates the need to get back on a path to 2% inflation.