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Fed's Goolsbee Questions Retail Job Growth's Impact

1/11/2025

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Summary

Story summary

Fed's Goolsbee doubts recent retail job growth reflects stronger consumer demand.
He notes the jobs market isn't fueling inflation, citing a 1.9% annualized rate over six months.
Goolsbee anticipates lower rates in 12-18 months if growth expectations remain stable.
He stresses the importance of tracking productivity and observes no signs of economic overheating.

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Story summary

Fed's Goolsbee doubts recent retail job growth reflects stronger consumer demand.
He notes the jobs market isn't fueling inflation, citing a 1.9% annualized rate over six months.
Goolsbee anticipates lower rates in 12-18 months if growth expectations remain stable.
He stresses the importance of tracking productivity and observes no signs of economic overheating.