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."
"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," Goolsbee said on CNBC's "." "If that happened ... it would just be a continuation of what we've already seen this year, which is unemployment up very modestly, while inflation has come down a lot. ... That's our goal.
"The fastest drop in the inflation rate in any year was 1982," Goolsbee said. "We'll see what happens over the next couple of months. We might equal the fastest dropping inflation in the last century. So we're making progress on the inflation rate." "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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