Austan Goolsbee, President of the Chicago Fed, voiced his hope that the current situation could have a "soft landing." He commented that "because of the peculiarities of the present, there is a potential for the fortunate path…wherein inflation is brought down without the economy going into recession." Going forward, the Fed president said the central bank will be very attentive to the data.Chicago Federal Reserve President Austan Goolsbee commented on Tuesday that sustaining a "golden path" which is to combat inflation without significantly damaging the economy is still on the table. He explained on CNBC's "Squawk Box" that this would involve unemployment rising modestly while inflation is significantly dropping. He noted that core inflation as of now is 3.7% on an annual basis, yet still above the Fed's 2% annual target, and that the decline in price pressures achieved is already a great accomplishment. He also stated that it could be possible to equal the fastest dropping inflation in the century. The Fed president further commented that such a soft landing against a historic surge in inflation won't be an easy task and that the central bank will be data dependent going forward. He concluded by citing Chair Jerome Powell's comments, that the central bank hasn't made any decisions yet for its December meeting.
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