Austan Goolsbee, Interview: CNBC

Fed Funds

“So Fed’s got a job to maximize employment and stabilize prices, and Fed’s going to do that job. If the credit conditions are doing that job for it, you want to be mindful of it and not be too aggressive.”

“We still got several weeks before the FOMC meeting, so I don’t want to specify to the basis point exactly what is that going to mean for… What I would be for at the FOMC meeting, because I still want to see the data. But let’s just be mindful that we’ve raised a lot. It takes time for that to work its way through the system, and with this retail sales number, you may be seeing a little bit of that lag. And if you add financial stress on top of that, let’s not be too aggressive.”