The labor market is busy

Speaking to Chicago public radio station WBEZ, Federal Reserve Bank of Chicago President Austan Goolsbee warned Thursday that if the strike continues, supply chain disruptions could put upward pressure on prices and negatively impact the economy. .

Key quotes

The swineherd’s strike has been predicted, retailers have stocked up and have about two weeks’ supply. After that, we will see more of an effect.

The dock workers’ strike could have effects on the supply chain, leading to some price increases.

The dock workers’ strike might start as an inconvenience, but it gets worse as it goes on.

We have largely reduced inflation.

New inflation figures are on Fed target; the labor market is busy.

The 25bps reduction from 50bps is not as important as the significant reduction in rates over the next 12 months to reach neutral.

There has been a “partisanship” of consumer confidence readings, making them less informative for consumer spending.