Chicago Fed's Austan Goolsbee says inflation still stresses US economy
Business
Austan Goolsbee, who heads the Chicago Fed, says rising prices are still the main thing stressing out the US economy.
On a Wired video published on Tuesday and recorded on June 22, he put it simply: "People hate inflation."
He called the job market "stable, without being good," showing there's still some uncertainty around.
Fed holds rates at 3.50%-3.75%
The Federal Reserve just kept interest rates steady at 3.50% to 3.75%, even though a few members wanted to hike them.
Inflation has been above its target for over five years now. While some experts think things might cool off by year-end, July numbers could show prices ticking up again.
The Fed hasn't committed to raising rates in September yet. Goolsbee hasn't said exactly where he stands on that move either.