FED’S GOOLSBEE SAYS THE CPI DATA WAS ‘DISCOURAGING’, WITH PRICES AND COSTS ‘CLEARLY THE WORST SIDE OF THE ECONOMY’ AND THE ECONOMY HAVING ‘WORK TO DO ON THE INFLATION SIDE’, THOUGH HE IS HEARING ABOUT COSTS AND PRICES FROM CONTACTS RATHER THAN WORRIES ABOUT RECESSION, AND HOPES ENERGY WILL FADE SOON FROM THE INFLATION DATA.
(@FirstSquaw)