Economy · Brief
Goolsbee Calls Inflation Report “Borderline Disturbing”
The Chicago Fed president pointed to high services inflation as the Fed weighs more rate rises.
Kunkafa News · Published · 2 min read
By Kareem FaridDiscuss with the author on X
Key points
- Austan Goolsbee called the October report “borderline disturbing” and “distressing”.
- He named high services inflation and rising inflation expectations as his main worries.
The Chicago Fed president said services inflation has stayed high and that expectations of hot inflation are a major concern, he told CNBC.
His comments add to signs that the Federal Reserve could raise rates again in December. That helped the dollar firm against other major currencies.
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