Goolsbee disappointed by US inflation data

Speaking to Yahoo Finance, Goolsbee said he wanted to see more economic data before making a decision on interest rate hikes. Emphasizing the importance of monitoring the broader inflation trend, he stated that the Fed would need to respond through monetary policy if core inflation became persistently elevated at around 4%.

Annual US consumer inflation rose to 3.7% in September, exceeding market expectations of 3.6%. Inflation accelerated from 3.4% in August, while core CPI also surpassed forecasts, rising 0.3% month-on-month and 2.6% year-on-year. Goolsbee noted that inflation data had disappointed expectations for two consecutive months, signaling that upcoming economic indicators would play a decisive role in the Fed's future interest rate decisions.