Austan Goolsbee, president of the Federal Reserve Bank of Chicago, suggested Monday that the economy appears to be on what he calls the “golden path,” another term for what economists call a “soft landing,” in which the Fed would curb inflation without causing a deep recession.
With borrowing costs double their levels from just two years ago, many small business owners are postponing hiring, large equipment purchases and expansion plans, The Wall Street Journal reports.
The Associated Builders and Contractors reported Tuesday morning that its Construction Backlog Indicator decreased to 8.4 months in October, the lowest levels since early 2022.