Fed’s Goolsbee: CPI was borderline disturbing on inflation
Speaking in an interview on PBS Newshour early Wednesday, Chicago Federal Reserve President Austan Goolsbee said that “CPI was borderline disturbing on inflation.”
Federal Reserve President Austan Goolsbee expressed concern over inflation during a recent PBS Newshour interview. He described the Consumer Price Index (CPI) as "borderline disturbing," particularly noting that services inflation is failing to subside. Goolsbee emphasized that inflation is driven by both cost and demand factors, including business investment.
He expressed worry about the overall overheating of prices for a variety of goods and services. Despite the steady job market, Goolsbee emphasized the need to address persistent inflation, as it may become embedded in expectations if left unchecked. He indicated that all options, including potential rate hikes, remain on the table.
The tone of Goolsbee's comments reflected a more hawkish stance compared to previous speeches, with an 8/10 FXS Speechtracker score significantly above the historical average. The remarks also underscored concerns about inflation expectations becoming entrenched, further supporting a potential December rate hike.
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