Chicago Fed President Austan Goolsbee downplayed concerns about a potential U.S. recession, despite recent weak job data and a global market downturn. He emphasized that the U.S. economy doesn’t appear to be overheating, which would typically necessitate restrictive monetary policy. Goolsbee’s comment, “You only want to be that restrictive if you think there’s fear of overheating… These data, to me, does not look like overheating,” suggests he sees little reason for aggressive tightening.
However, there’s a question implied about whether he considered the performance of Asian markets, particularly given the selloff earlier in the day.
Source from Reuters#BTCMarketPanic #RecessionOrDip?