Fed’s Goolsbee on Inflation, Wages, Possible Auto Strike

Bloomberg Television published this video item, entitled “Fed’s Goolsbee on Inflation, Wages, Possible Auto Strike” – below is their description.

Federal Reserve Bank of Chicago President Austan Goolsbee discusses the path of Fed policy, what a potential UAW strike could mean for the economy and the current level of mortgage rates with Mike McKee on the sidelines of the Federal Reserve Bank of Kansas City’s annual economic policy symposium in Jackson Hole, Wyoming.

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In This Story: Inflation

In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

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Wyoming is a state in the Mountain West subregion of the Western United States. The 10th largest state by area, it is also the least populous and least densely populated state in the contiguous United States.

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