Weekend Fedspeak – Goolsbee shrugged off 3 decade high in inflation expectations data

Federal Reserve Bank of Chicago President Austan Goolsbee spoke Sunday in an interview on News Nation.

He was asked on this:

• US long-term inflation expectations hit a 30-year high in the UMich survey
• This will get their attention.

Its hard to take the Fed seriously when you see a rapid shunt higher like this (check out the graph in that linked post above) and a senior official like Goolsbee plays it down:

• figure “wasn’t a great number”
• “But it’s only one month of data. You need at least two or three months for that to count.”

Let’s say we get two to three months, like Goolsbee wants, and its higher. Then its nearly July and these guys are once again way behind the curve.

30-year high. gimme a break.

30 years ago.

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