Fed's Goolsbee isn't worried about the cooling labor market yet
The unemployment has increased over the past two months now standing at 4.1 % for June. It's higher than the June 2023 rates of 3.4%, but is still historically low. Chicago Federal Reserve President Austan Goolsbee sits down with Yahoo Finance Reporter Jennifer Schonberger to discuss unemployment and how the Fed takes it into consideration for policy decisions. Goolsbee says the labor market has been "cooling to a position of better balance, but it has been cooling. And that in itself is not the usual historic norm. It doesn't usually cool mildly. We are either improving or getting worse. So it's definitely an area of concern, one to keep your eye on. There are some other warning lights, I'd say, but so far this doesn't look like a recession. It's just a cooling back to better balance, but it needs to stabilize at that and not keep getting worse." says Goolsbee For more expert insight and the latest market action, click here to watch this full episode of Catalysts and be sure to check out the full interview with Chicago Fed President Austan Goolsbee. This post was written by Nicholas Jacobino
