Fed's Goolsbee: Fed needs to recalibrate policy

Odaily News In an interview with the Wall Street Journal last week, Fed Governor Goolsbee said that the Fed must "re-adjust" its policy after a series of higher-than-expected inflation data. Goolsbee believes that one month is equivalent to zero, but "three months" is at least "a real month." "After six or seven months of very strong improvements and inflation close to 2%, now we are seeing inflation far above that level. We must readjust and we must wait and see." This remark echoed his remarks last Friday: "So far, in 2024, progress on inflation has stagnated. People will not pay too much attention to any one month's data, especially inflation, but similar situations in three months cannot be ignored." (Jinshi)