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

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)