Fed’s Goolsbee: Anchored Inflation Expectations a Major Concern

Goolsbee's emphasis on expectations rather than the current inflation print signals that the Fed's worry is shifting from the level of prices to the psychology around them, which is harder to reverse once entrenched. For crypto and RWA markets, this matters because a Fed that feels it must defend its credibility has less room to ease, keeping the rate backdrop restrictive for risk assets. Whether expectations data actually harden — and how other Fed officials echo Goolsbee — is the open question worth watching.