Federal Reserve Bank of Chicago President Austan Goolsbee told NPR in an interview posted on Saturday that there is still a "substantial amount of work" to be done to lower inflation to the 2% target. "We have not yet succeeded in doing that," he commented.
Meanwhile, talking about the Fed's work, he reiterated that the central bank must continue to work independently from the country's sitting administration "as much as possible." "If you look around the world at countries where that is not true, the inflation rate is higher, the growth is slower, [and] job market performance is worse," Goolsbee stressed.
