© Reuters. FILE PHOTO: Austan Goolsbee, now the president of the Chicago Federal Reserve, speaks during the Obama Foundation “Democracy Forum” in New York City, U.S., November 17, 2022. REUTERS/Brendan McDermid/File Photo
(Reuters) – Chicago Federal Reserve Bank President Austan Goolsbee said on Sunday he won’t ‘prejudge’ whether he would support an interest-rate hike at the upcoming Fed meeting in June, but noted that the full impact of the central bank’s rate increases to date have yet to be felt.
“We are going to get a lot of important data between now and then,” Goolsbee told CBS’s Face the Nation. “The actions that the Fed takes take months or even years to work their way through the system…there’s no doubt inflation is too high, still — it has come down — and we are just trying to manage, can we get inflation down without starting a recession.”