Chicago Fed President Austan Goolsbee said latest CPI showed unexpected rise in services inflation, indicating broader price pressures beyond oil and tariffs.
He described the CPI report as having “not much that’s good,” calling the services inflation increase an “unexpected disappointment.”
Goolsbee noted labor market conditions remain stable but not good, and warned that losing Fed independence could cause inflation to surge.
He cautioned that if President Trump’s nominee Kevin Warsh becomes Fed Chair, central‑bank independence might be at risk.