{
  "id": 10749158,
  "title": "Fed’s Goolsbee says persistent inflation is like “playing with fire”",
  "url": "https://urgent.news/2026/09/29/feds-goolsbee-says-persistent-inflation-is-like-playing-with-fire",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-29T18:12:37.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/feds-goolsbee-says-persistent-inflation-is-like-playing-with-fire-202609291812"
  },
  "original_language": "en",
  "account": "Chicago Fed President Austan Goolsbee warned that persistent inflation is akin to \"playing with fire.\" He stated that being above the inflation target for 5½ years is dangerous and that massive deficits can lead to overheating the economy. Goolsbee acknowledged that inflation in 2023 and 2024 was moving towards the Fed's 2% goal, but it stalled, confirming the need to see evidence that inflation was coming back down. He emphasized that future productivity gains from AI could create a risk of overheating the economy now. The Fed Act does not mandate ensuring the bond market and stock markets are satisfied. The logic of ignoring supply shocks should be reconsidered. Though the price of oil might drop quickly, the larger issue lies in getting refineries back online. Keep a close eye on productivity. Massive deficits act as stimulus and can lead to economic overheating. In 2023 and 2024, he believed inflation was on track to return to the 2% goal, but it stalled. In the dot plot, he is among the more optimistic members of the Fed.",
  "summary": "Chicago Fed President Austan Goolsbee, a voter in the Federal Open Market Committee (FOMC) in 2027, crossed the wires. He said that “the fact that we have been 5 ½ years above inflation target is playing with fire,” adding that “massive deficits” can overheat the economy.",
  "key_points": [
    "Goolsbee likens persistent inflation to playing with fire",
    "Inflation in 2023 and 2024 stalled, needing evidence of decline",
    "Future AI productivity gains risk overheating the economy"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Investing.com",
        "title": "Fed’s Goolsbee says prolonged inflation above target is \"playing with fire\"",
        "url": "https://urgent.news/2026/09/29/feds-goolsbee-says-prolonged-inflation-above-target-is-playing-with",
        "published": "2026-09-29T18:11:28.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}