Federal Reserve official says fighting inflation likely to be ‘painful’
Federal Reserve official Austan Goolsbee stated that fighting high inflation may require causing economic pain, such as increased unemployment. Speaking in London, the Chicago Fed President noted the central bank's difficult position in addressing persistent price increases. The remarks highlight potential labor market impacts resulting from monetary policy adjustments.
WASHINGTON (AP) — A top Federal Reserve official said Monday that the central bank may have to cause economic pain in the form of higher unemployment to combat stubbornly high inflation. Austan Goolsbee, president of the Federal Reserve Bank of Chicago, said in a speech in London that the Fed is facing a series of […]
READ NEXT
More on the wire
AI TLDR
Fans in New Orleans celebrated Dolly Parton Day on September 25 with music and tributes to honor the late country music icon.
AI TLDR
Pierce Transit is promoting a ballot measure, Prop 1, which aims to increase bus service by 49%. Advocates are seeking voter approval to fund the expansion in the South Sound region.
AI TLDR
KIRO hosts expressed concern over Seattle's police response times, suggesting that the issue is systemic and cannot be solved by a new police chief alone.