Goolsbee Sees More ‘Trade-Offs’ Ahead After Hot Inflation Report
1 hr 4 min ago
An accelerating inflation rate may force the Federal Reserve to more carefully balance its efforts to reduce price pressures and keep unemployment low, Chicago Fed President Austan Goolsbee said at an event today.
Inflation data over the first three months was worse than expected, Goolsbee said at a Social Finance Institute event in Cambridge, Massachusetts. That could force the Federal Reserve into “trade-offs” as it looks to tame prices while maintaining low unemployment, he said according to a Bloomberg report.
Today’s Consumer Price Index (CPI) report showed progress toward the inflation annual target of 2% was stalling out. It also came as several Fed officials said they need to see further progress toward the goal before supporting interest rate cuts.
Also at the event,…
