Fed’s Goolsbee: We will get inflation to 2%

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Austan Goolsbee, President of the Federal Reserve (Fed) Bank of Chicago, told AP at the Semafor World Economy conference on Tuesday that the longer the Middle East concerns go, the cut could be pushed out of 2026.

Key takeaways:

There are circumstances where rates can go up, and circumstances for a hold, or decreases.

My concern is how long is this going to last.

The longer this goes, if inflation stays up, that pushes cuts out of 2026.

If inflation doesn't show improvement, time for optimism gets postponed.

We have to wait and see what happens with oil markets.

If saw progress on core inflation, would be feeling better, even if headline inflation was high.

We will get inflation to 2%.

If inflation is 4%, nobody should be thinking rates should go back to 2%.

We've had good news on housing inflation.

I have a lot of respect for Kevin Warsh.

I'm not nervous as long as people come with the Fed mindset that the law gives us a job about the economy, not electoral politics.

I think Warsh will come with that attitude.

Normally don't tighten into a supply shock. Inflation expectations so far are anchored.

If gas gets to $5 and stays there for months, inflation expectations could get unanchored."

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Canadian Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.39%	-0.56%	-0.41%	-0.30%	-0.61%	-0.79%	-0.48%
EUR	0.39%		-0.16%	-0.02%	0.09%	-0.23%	-0.41%	-0.10%
GBP	0.56%	0.16%		0.15%	0.27%	-0.07%	-0.24%	0.07%
JPY	0.41%	0.02%	-0.15%		0.12%	-0.19%	-0.37%	-0.06%
CAD	0.30%	-0.09%	-0.27%	-0.12%		-0.32%	-0.48%	-0.19%
AUD	0.61%	0.23%	0.07%	0.19%	0.32%		-0.18%	0.12%
NZD	0.79%	0.41%	0.24%	0.37%	0.48%	0.18%		0.31%
CHF	0.48%	0.10%	-0.07%	0.06%	0.19%	-0.12%	-0.31%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).