9/28, 3:20 PM (Source: TeleTrader)
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Fed's Goolsbee: Inflation can return to 2% without recession

Federal Reserve Bank of Chicago President Austan Goolsbee said on Thursday that the Fed has the chance to bring inflation down to the 2% target without triggering a recession. He cited analysts who said the target will be reached "soon" and "without further policy tightening."

Goolsbee said housing will be a "key" factor in the course of inflation for the next few quarters, warning that rising home prices could also boost market rents. In terms of the economic outlook, he listed a number of downside risks, including a rise in oil prices, lagging industrial activity in China, a protracted strike of US auto workers, and a possible government shutdown.

Baha Breaking News (BBN) / DJ