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Fed's Goolsbee says he's disappointed by latest inflation read

By Reuters Reuters
FILE PHOTO: Chicago Federal Reserve President Austan Goolsbee participates in a session titled "The Future of Global Finance" during the Semafor World Economy conference in Washington, D.C., U.S., April 14, 2026. REUTERS/Elizabeth Frantz/File Photo
FILE PHOTO: Chicago Federal Reserve President Austan Goolsbee participates in a session titled "The Future of Global Finance" during the Semafor World Economy conference in Washington, D.C., U.S., April 14, 2026. REUTERS/Elizabeth Frantz/File Photo Elizabeth Frantz Reuters

Chicago Federal Reserve President Austan Goolsbee said on Tuesday that the government's report showing accelerating consumer inflation last month contained the "unexpected disappointment" of rising services inflation that is evidence of broader price pressures.

Inflation is "going the wrong way, and it's going the wrong way not just in oil-related things and not just in tariff-related things," Goolsbee told the Greater Rockford Chamber of Commerce in Rockford, Illinois.

Services inflation "is the part that I'm nervous about. I want to see that at least stop growing and hopefully start going back down because that can't really be from oil prices."

(Reporting by Ann Saphir; Editing by Mark Porter)

Copyright Reuters or USA Today Network via Reuters Connect.

This story was originally published May 12, 2026 at 10:35 AM.

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