Fed President Points to Several ‘Warning Signs’ for Economy

He singled out rising unemployment claims, increases in debt delinquency rates, and what seems to be cooling in consumer spending.

The Federal Reserve System building in Washington on March 25, 2024. Madalina Vasiliu/The Epoch Times

The president of the Federal Reserve Bank of Chicago said that he’s hopeful that inflation will continue to come down while pointing to several warning signs for the economy, such as cooling consumer spending, a key economic driver.

Federal Reserve Bank of Chicago President Austan Goolsbee said in a June 24 interview on CNBC that he’s “closet optimistic that we’re going to see improvement” on the inflation front, adding he needs “a little bit more confidence” that price pressures are indeed coming down after several higher-than-expected readings in recent months.