More from Goolsbee: Says he is not hearing much from business contacts about layoffs

He loves to talk:

• The bar for a Fed policy change is now pretty high
• Fed should keep all options on the table
• Current tariffs will drive up inflation near term, hurt growth
• Current tariffs are higher than most scenarios even with Trump’s pause
• Says he prefers market-based inflation data compared to surveys

Fed officials keep on saying that they’re in no hurry to cut rates and the market continues to price in at least one cut in the next two meetings with 99 bps priced in the year ahead.

This article was written by Adam Button at www.forexlive.com.