Austan Goolsbee on Interest Rate Hikes: ‘We Got to Watch a Lot of Indicators, Not Just the Unemployment’

RUSH EXCERPT:
GOOLSBEE: "The economy was looking quite hot. The inflation hasn’t come down as fast as we wanted to and the jobs are the strength. We know that credit conditions like the ones we’re seeing now in the past have been correlated with recessions, credit crunches, kind have done the tightening work of monetary policy. So in our phrase, as you know, data dependence, we got to be data dependent. We got to watch a lot of indicators, not just the unemployment."