"It would necessarily be painful." Chicago Fed President Austan Goolsbee says the central bank has reached the limit of any ability to wait out supply shocks, which means higher interest rates will have to slow sectors of the economy that may not be driving up prices. He also sees evidence that the AI investment boom is not "staying in its lane," and cites conversations with businesses who see increasing labor-market pressures for AI-adjacent industries. https://t.co/pvKJBzbRpQ
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