Federal Reserve Bank of Chicago President Austan Goolsbee said that the inflation rate in the United States is still higher than the targeted level.
"We have seen inflation start coming down before, and it was a bit of a false dawn and inflation started to come back," he told Marketplace, according to an edited transcript of his interview. He listed the economic situation in China and the potential US government shutdown as risks.
Getting inflation down without a recession is not guaranteed but "there's a growing confidence that we can pull it off," Goolsbee noted.
