Federal Reserve's Goolsbee: September inflation disappointing, more data needed before interest rate hikes

Chicago Federal Reserve President Austan Goolsbee said U.S. September inflation data coming in higher than expected is disappointing, particularly as services inflation remains above 5% and core goods prices failed to cool as anticipated, indicating inflationary pressures may be more persistent than previously assessed. He noted that if core inflation continues to hold at an annualized monthly rate of around 4%, that would be completely unacceptable and the Fed must take policy action. Goolsbee

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