I don’t think inflation will stay above 2%.

Federal Reserve The Federal Reserve has seen broad success in achieving its goals, and inflation should continue to trend toward the Fed’s target range, Bank of Chicago President Austin Goolsbee said Friday.

Key points

I support the Fed’s new focus on labor markets.

Inflation is on track to reach 2%.

Policy has now reached its most intense point in the entire rate hike cycle.

Everything we wanted to do to lower prices has happened.

By almost every measure, the labor market appears to be slowing.

I don’t think inflation will stay above 2%.