I don’t think inflation will get stuck above 2%

Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee noted on Friday that the Fed has been broadly successful in meeting its targets and that inflation should continue to move towards the US central bank’s target range.

Key highlights

I support the Fed’s new focus on labor markets.

Inflation is on track to 2%.

The policy is now at the tightest point of the entire hiking cycle.

Everything we wanted to happen to lower rates happened.

By almost every measure, the labor market is cooling.

I don’t think inflation will get stuck above 2%.