Chicago Fed President Austan Goolsbee on tariffs, markets, and the Midwest economy

It’s been nearly a week since President Donald Trump announced a broad set of tariffs on countries around the world. Austan Goolsbee is president and CEO of the Federal Reserve Bank of Chicago. In that role, he’s currently on a rotation as a voting member of the Federal Open Market Committee.

Previously Goolsbee served as chairman of the Council of Economic Advisers at the start of the Obama administration and he was a professor in the Booth School of Business at the University of Chicago. Goolsbee shares his thoughts on the state of the midwest economy, how businesses in the region are responding to the tariffs, and the professed goal of the new tariff policies of increasing domestic production and manufacturing. 

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Austan Goolsbee 
President and CEO, Federal Reserve Bank of Chicago (2023-present)
Chairman, Council of Economic Advisers (Obama, 2009-2011)
Robert P. Gwinn Professor, University of Chicago Booth School of Business