The President of the Chicago Federal Reserve hopes to see more signs of easing inflationary pressures.
Chicago Fed President Austan Goolsbee said he hopes to see at least one more inflation report to ensure that stubborn price pressures have not rebounded. "There are some inconsistencies," Goolsbee said in an interview on Friday when discussing recent inflation data. "I feel we need to see at least one more report to determine if we are still on the right track." Goolsbee reiterated his earlier concerns about high inflation in the services sector in the July CPI report released on Tuesday. However, he also said that one should not overreact to monthly data, including the data released on Friday showing a rise in import prices in July.
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