Fed’s Goolsbee: Jobs data weak, but recession not imminent

Chicago Federal Reserve President Austan Goolsbee addressed the recent economic concerns in an interview with CNBC, noting that last Friday’s jobs numbers were “weaker than expected” but not yet indicative of a recession.

He emphasized the Fed’s commitment to its core mandates: “The Fed’s job is very straightforward: maximize employment, stabilize prices and maintain financial stability. That’s what we’re going to do.”

Goolsbee highlighted the Fed’s forward-looking approach, stating, “If the conditions collectively start coming in like that on the through line, there’s deterioration on any of those parts, we’re going to fix it.”