Goolsbee Calls September CPI Data Discouraging
Federal Reserve Bank of Chicago President Austan Goolsbee expressed concern over persistent price pressures following a discouraging September consumer price index report. He noted that services inflation shows little sign of improvement and warned against demand side overheating.
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Federal Reserve Bank of Chicago President Austan Goolsbee said on Wednesday the latest CPI data left him discouraged by persistent price pressures across the United States. The remarks follow September CPI figures that exceeded forecasts, driven largely by stubborn services inflation. Goolsbee warned that persistent demand-side overheating requires a firm policy response to protect the central bank's 2% target.
