Chicago Fed's Goolsbee Warns of Inflation Risks and Caution on Rate Cuts
Chicago Fed President Austan Goolsbee called recent inflation data 'bad news' for the Federal Reserve, emphasizing the need for caution in rate cuts until inflation declines. The Personal Consumption Expenditures price index rose 3.5% annually in March, with inflation rising even in service sectors not affected by tariffs or oil prices. The Fed's recent meeting saw an 8-4 split on holding rates steady, with three dissenting against the language suggesting a likely rate cut.
Topics: economic data Federal Reserve inflation monetary policy rate cuts