Fed's Goolsbee Says Current Unemployment Rate Is "Pretty Close" To Full Employment; Business Contacts Say Labor Market Is Getting Tighter, Alternate Measures Tell The Same Story; Fed Remains Very Credible, Everyone Takes The Job Extremely Seriously; Components Of Inflation Will Matter To Fed's Analysis, With Services Inflation Not Seen As Tied To Oil Price Shock But A Product Of Strong Demand; Should Be Open To Making The Sep More Informative
https://www.chicagofed.org/publications/speeches/2026/sept-21-omfif
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Why It Matters
The Federal Reserve says the job market is nearly as strong as it can get. When jobs are plentiful and fewer people are looking for work, the Fed watches inflation more carefully to decide on interest rates.
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