Austan Goolsbee, Interview: Marketplace

Fed Funds

“My message is, be prudent, be patient. The tightening of credit conditions, if they happen in a, doesn’t even have to be a credit crunch and for sure it doesn’t have to be a financial crisis. If banks are pulling back, it behooves us to pay attention to the data and ask how much of our normal monetary policy job is getting done for us by the credit conditions.”