Goolsbee Seeks More Inflation Data Before Any Rate Increase
The Chicago Fed president called September’s inflation report disappointing and said policymakers need more evidence before acting on rates.
Key takeaways
- Goolsbee said he wants more data before the Fed considers a rate increase.
- September CPI rose 3.7% year over year, above economists’ 3.6% expectation.
Chicago Fed President Austan Goolsbee said he wants more inflation data before taking action on a rate increase. He called September’s US inflation report disappointing.
The consumer price index rose 3.7% from a year earlier, above economists’ 3.6% expectation and August’s 3.4% rate. Core CPI, which excludes food and energy, increased 0.3% for the month, above the 0.2% forecast.
Annual core inflation reached 2.6%, compared with 2.4% in August. Goolsbee said persistent core inflation at 4% would be unacceptable and require a monetary policy response.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
