Fed's Goolsbee Warns of Inflation Risks and Caution on Rate Cuts
Chicago Fed President Austan Goolsbee stated that recent inflation data, showing a 3.5% annual rise in the Personal Consumption Expenditures price index, is 'bad news' for the Federal Reserve. He emphasized the need for caution in rate cuts until inflation returns to the 2% target. The Fed's recent meeting resulted in an 8-4 split vote to keep rates steady, the most divided since 1992.
Topics: economic data Federal Reserve inflation interest rates monetary policy