Fed’s Goolsbee speaking again, says the FOMC needs to see more employment data

Federal Reserve Bank of Chicago President Austan Goolsbee:

• The Fed watches the markets, but they don’t drive policy.
• The question is if
  the job market will hold, or keep worsening.
• We need to see more
  than payrolls and more than one month.
• We are getting back to more normal conditions in the US economy
• Policy is tight
• Whatever the Fed does, someone is going to be unhappy
• All the Fed can do is lay out the criteria for rates to go down, or stay the same, or go up
• We’ve been clear about the reaction function,. we are not in the business of politics

Goolsbee spoke earlier this week:

• Fed’s Goolsbee: Jobs numbers are weaker but it’s not looking yet like a recession

Nothing market moving in his comments here.

This article was written by Eamonn Sheridan at www.forexlive.com.