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Fed's Goolsbee Sees Encouraging and Concerning Parts of the CPI Report

Chicago Fed President Austan Goolsbee highlighted a mixed CPI report, noting a modest 0.2% month‑over‑month rise in headline inflation and a steady 2.5% year‑over‑year rate. While core inflation matched expectations, services inflation remains elevated, keeping overall inflation around 3% and away from the Fed’s 2% target. Real weekly earnings turned positive at +0.5%, offering a rare boost to household income. Goolsbee warned that the path to 2% inflation is still uncertain, even as bond yields slipped and markets priced in potential policy easing.