Chicago Fed President Austan Goolsbee, at an even overnight, highlighted the scope for the US economy to maintain what he terms the “golden path,” a scenario where inflation falls in conjunction with sustained labor market strength and economic growth. This balance, he notes, is historically rare but remains a viable outcome for the current year.
Goolsbee’s confidence stems from anticipated improvements in supply chain efficiency and labor supply impacts, which he believes will bolster this optimistic economic scenario.
“I still feel like there is supply benefit coming through the system on both the supply chain, and the impact of labor supply,” Goolsbee remarked.
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