Fed's Goolsbee says strength of economy still there, but confidence almost cratering ...Middle East

Federal Reserve Bank of Chicago President Austan Goolsbee spoke in a Fox TV interview:

Hard data on US economy still pretty solid

If can get past this period of uncertainty, underlying strength of economy is still there

Soft data looks very different from hard data

Confidence is almost cratering

Problem of tariffs is they are a supply shock

Fear is if tariffs on imports jumps out of just imports and move into other costs, or people freak out and change behavior

People don’t want to go back to the inflationary environment of 2021, 2022

more to come

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