Fed’s Goolsbee: Believed US Inflation Would Fall to 2% in 2023-24, Then It Stalled

Goolsbee's admission is notable less as new data than as a signal about how the Fed's own expectations have shifted: a policy path premised on inflation gliding back to target ran into a stall, which explains the caution that has defined the rate stance since. For crypto and RWA markets, the practical read is that the macro backdrop remains one where easing is contingent rather than scheduled, keeping risk appetite sensitive to each inflation print. Whether that stall proves temporary or structural is the open question shaping the next phase of policy.