Federal Reserve Bank of Chicago President Austan Goolsbee warns that the central bank cannot ignore repeated and persistent supply shocks and must respond in a way that may cause economic hardship. Goolsbee calls it “exactly the kind of painful trade-off between employment and inflation that stagflationary shocks always impose on the central bank.” He spoke Monday in London. (Source: Bloomberg)
Federal Reserve Bank of Chicago President Austan Goolsbee warns that the central bank cannot ignore repeated and persistent supply shocks and must respond in a way that may cause economic hardship. Goolsbee calls it “exactly the kind of painful trade-off between employment and inflation that stagflationary shocks always impose on the central bank.” He spoke Monday in London. (Source: Bloomberg)
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