Fed’s Goolsbee: Inflation is the “biggest problem” of the economy

The Chicago Fed President Austan Goolsbee revealed in a video posted by Wired, that “The biggest problem facing our economy right now is not the collapse of industry and the collapse of jobs; it's that the prices have been rising too fast, we got an inflation problem and people hate inflation.”

He commented that as long as the consumer remains healthy, the economy will remain healthy as well. Regarding economic indicators like the unemployment rate, the hiring rate, and the layoff rate, Goolsbee said: “They say the labor market is stable, without being good, is how I characterize it.”