Fed’s Goolsbee: I feel ‘a lot better’ about multiple months of improvement in CPI

• It’s very clear that inflation has come way down in 12-18 months
• This is about as fast as inflation has ever fallen
• Inflation path isn’t done but it makes me feel a lot better to see components decline, including housing
• The labor market has been cooling to a position of better balance
• So far this doesn’t look like a recession in the labor market but there are warning lights
• We want to be stable at full employment
• If you saw a sharp of an uptick in unemployment, you would be justified to be agitated about the unemployment level. Thus far it doesn’t look like that.
• Unemployment needs to steady

This article was written by Adam Button at www.forexlive.com.