According to PANews, Fed Chairman Goolsbee said that the Fed has been in a tightening mode. Such strict measures are only necessary when there is a concern about overheating of the economy. The current data does not show signs of overheating in the economy.

Employment data came in below expectations but shows no signs of a recession yet. On the other hand, GDP data was slightly stronger than expected. Still, there are some warning signs in other data, such as corporate defaults. Economic growth continues to remain at a solid level.