Chicago Fed Pres. Goolsbee: US is in an environment of "cross currents" ...Middle East

Chicago Fed Pres. Goolsbee speaking to FoxBusiness says:U.S. is in an environment of "cross currents"Fed must get inflation back down to targetDon't like to put constraints on what the Fed might do at a future meetingThe "long arc" on inflation shows it coming down from high levels; if PCE shows better readings that will "make us feel better"If PCE is "reinflating" the Fed "will stabilize prices"The question of the "last mile" on inflation is "a little harder;" supply may not help as muchThe most important number in the immediate term on inflation is what is happening with housingIf shelter inflation does not come down to where it was before the pandemic it will be hard to get back to target

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