Fed’s Goolsbee Says Path to 2% ‘Unlikely to Be Painless’

Federal Reserve Bank of Chicago President Austan Goolsbee said Monday in London that the central bank must respond to repeated supply shocks in ways that may cause economic hardship. Goolsbee characterized the situation as involving trade-offs between employment and inflation levels. He did not specify which supply shocks he referenced or provide a timeline for policy decisions.

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