Austan Goolsbee, Speech: The Need for a Ground-Level View of the Economy

Monetary policy was not discussed.

General Economic Comment

“No doubt there will be bumps in the road to come. It’s a strange and unprecedented moment coming out of the pandemic. Lots of things in the economy got turned on their heads, and we need to figure out where they will land and what that means for the future. But we will figure it out.”

Interesting Fact

“Our vault has billions of dollars of cash in it. That doesn’t look as cool as you would think, though. I thought it would be stacks and stacks of money piled up to the ceiling. Actually, the money is bound in small bundles wrapped in plastic baggies and sitting on pushcarts. It almost looks like a high school storage room or something. Still, if you look at a dollar bill in your wallet and it has a letter “G” displayed in the circle, it’s from us—the Seventh District.”