- Chicago Fed President Austan Goolsbee stated that recent inflation readings have been higher than expected and represent a setback in the progress toward the two percent target
- The annual inflation rate reportedly jumped to 3.3 percent in early 2026 driven by energy costs and geopolitical tensions
- Goolsbee emphasized that the Federal Reserve must determine if the current restrictive policy is sufficient or if further adjustments are needed to cool the economy
- Market analysts noted that core inflation remains more moderate at 2.6 percent but monthly consumer price increases reached their highest levels in years
- The Fed official suggested that the path to lower inflation may be bumpier than previously anticipated following several months of stronger than expected price growth
Chicago Fed President Austan Goolsbee labels recent inflation data as bad news
May 2, 2026, 7:04:32 PM UTC(15 hours ago)
Impact: MediumAffected Assets
Sources
From:@DeItaone
GOOLSBEE: INFLATION DATA LAST WEEK WAS "BAD NEWS"
