{"id":11447,"date":"2023-12-15T20:01:43","date_gmt":"2023-12-15T20:01:43","guid":{"rendered":"https:\/\/lendingsensibly.com\/economy\/feds-goolsbee-we-still-have-a-long-way-to-go-to-get-to-2-target\/"},"modified":"2023-12-15T20:01:44","modified_gmt":"2023-12-15T20:01:44","slug":"feds-goolsbee-we-still-have-a-long-way-to-go-to-get-to-2-target","status":"publish","type":"post","link":"https:\/\/lendingsensibly.com\/?p=11447","title":{"rendered":"Fed\u2019s Goolsbee: \u2018We still have a long way to go\u2019 to get to 2% target"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002727082\" role=\"document\">\n<p>The October consumer inflation data show that progress continues on bringing inflation down, but price pressures remain well above the Fed\u2019s preferred level, Chicago Federal Reserve President Austan Goolsbee said on Tuesday.<\/p>\n<p>\u201cWe still have a long way to go before we reach our 2% PCE inflation target,\u201d Goolsbee said in a moderated discussion at the Detroit Economic Club. The personal consumption expenditures price index, or PCE, is the Fed\u2019s preferred measure of inflation.<\/p>\n<div class=\"paywall\">\n<p>\u201cThere are always some bumps in the road when inflation comes down,\u201d he added.<\/p>\n<p>Headline inflation was flat in October, led by a drop in gasoline prices. It was the smallest gain in 15 months. Stocks<br \/>\n        DJIA<\/p>\n<p>        SPX<br \/>\n       rose sharply and bond yields<br \/>\n        BX:TMUBMUSD10Y<br \/>\n       dropped after the data were released. <\/p>\n<p><strong>Read: <\/strong>U.S. prices not rising as fast<\/p>\n<p>Goolsbee said that 2023 has been a good year for the Fed and that he hoped the trend would continue.<\/p>\n<p>This year might see the single largest drop in inflation in a peacetime economy in 100 years, he said, adding that the key to further progress over the next few months will be what happens to housing inflation.<\/p>\n<p>There could be \u201cthe softest of all soft landings,\u201d he said of the U.S. economy.<\/p>\n<p>This process has been aided by strong supply-side developments and strong productivity growth, he said.<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/feds-goolsbee-we-still-have-a-long-way-to-go-to-get-to-2-target-bc98ddbd?mod=economy-politics\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The October consumer inflation data show that progress continues on bringing inflation down, but price pressures remain well above the Fed\u2019s preferred level, Chicago Federal Reserve President Austan Goolsbee said on Tuesday. \u201cWe still have a long way to go before we reach our 2% PCE inflation target,\u201d Goolsbee said in a moderated discussion at the Detroit Economic Club. The personal consumption expenditures price index, or PCE, is the Fed\u2019s preferred measure of inflation. \u201cThere are always some bumps in the road when inflation comes down,\u201d he added. Headline inflation was flat in October, led by a drop in gasoline<\/p>\n","protected":false},"author":1,"featured_media":11448,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[38],"tags":[],"class_list":["post-11447","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Fed\u2019s Goolsbee: \u2018We still have a long way to go\u2019 to get to 2% target | LendingSensibly<\/title>\n<meta name=\"description\" content=\"The October consumer inflation data show that progress continues on bringing inflation down, but price pressures remain well above the Fed\u2019s preferred\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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