Federal Reserve's Goolsby: If reserves are insufficient, it's impossible to set interest rates at the desired level.

Federal Reserve's Goolsby stated that without sufficient reserves, it's impossible to set interest rates at the desired level; with ample reserves, the balance sheet must expand as the economy grows. Furthermore, Federal Reserve's Hamak stated that an independent central bank yields better results, and the lack of data makes interpreting inflation data more difficult. He found some comfort in market-based inflation indicators, a source of optimism regarding the path of price increases, and expressed "great gratitude" for the return of government data, noting the abundance of alternative data in the labor market. (Jinshi)