Fed’s Goolsbee Says Too-High Inflation Is ‘Going the Wrong Way’ (opens original article in a new tab)

Federal Reserve Bank of Chicago President Austan Goolsbee expressed concern over persistent inflation above the 2% target, questioning if price increases are temporary and highlighting ongoing services price pressures as a key issue. The Fed's FOMC meeting included new chairman Kevin Warsh, who has initiated reforms and emphasized reducing excessive guidance on future interest rate decisions.

• Federal Reserve Bank of Chicago President Austan Goolsbee expressed concern over inflation remaining above the 2% target and questioned if price increases are temporary.
• Goolsbee highlighted that rising services prices, unrelated to temporary factors like energy shocks, are a persistent concern.
• The Fed's FOMC meeting included new chairman Kevin Warsh, who has initiated reforms and emphasized reducing excessive guidance on future interest rate decisions.