Chicago Fed's Goolsbee: if AI Demand Overheats, no Ambiguity on Fed Response
Dow Jones09-21 22:47
1047 ET - Chicago Fed President Austan Goolsbee says he is especially attuned to elevated inflation in service-sector industries, and to any evidence that AI data center construction is spilling out of its own lane and raising aggregate output beyond what the economy can absorb. "If demand overheats, there is no ambiguity about how the Fed needs to respond," Goolsbee says while delivering remarks in London. Goolsbee also says that recent supply shocks in the economy, including in oil, have been nothing like the "one and done" pattern that underpins the case for looking through.
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