Chicago Fed President Austan Goolsbee said a soft landing is still on the table as the Fed seeks to combat inflation without hurting the economy significantly.
"Because of some of the strangeness of this moment, there is the possibility of the golden path ... that we got inflation down without a recession," Chicago Fed President Goolsbee said on CNBC's"Squawk Box."
Chicago Federal Reserve President Austan Goolsbee said Tuesday a soft landing is still on the table as the central bank seeks to combat inflation without hurting the economy significantly. Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weeklyThe Fed held interest rates steady last week, the second consecutive meeting that the Federal Open Market Committee chose to hold, following a string of 11 rate hikes., still well above the Fed's 2% annual target. Goolsbee emphasized that the drop in price pressures so far has already been a great achievement.
"Unusually for a soft landing of this magnitude, there has never been an inflation rate drop, to get inflation down as much as as we're getting it down without a big recession. That's basically never happened," he said."Let's shoot to try to manage that."
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