Government shutdown shifts risks to inflation, not jobs, where Fed is half-blind, Chicago Fed president says

Government shutdown shifts risks to inflation, not jobs, where Fed is half-blind, Chicago Fed president says

Q&AUp until now, Chicago Federal Reserve President Austan Goolsbee has been more worried about a weakening jobs market than inflation. The government shutdown has changed his thinking.Goolsbee said in an interview that the lack of recent inflation data leaves the Fed with “one eye covered.” There are alternative sources for jobs data, such as ADP’s private-sector payrolls and proxies produced by the Chicago Fed, which Goolsbee oversees, but few …