Federal Reserve Bank of Chicago President Austan Goolsbee said officials have to address elevated inflation, calling the October report on consumer prices disturbing.
Fed Bank of Philadelphia President Anna Paulson said she favors a gradual pace for interest-rate increases, adding that wage pressures have been limited and inflation expectations remain consistent with the central bank’s 2% target
FED'S GOOLSBEE SAYS THE JOB MARKET REMAINS STEADY AND STABLE, THAT BUSINESS SPENDING IS INFLUENCED BY INTEREST RATES, AND THAT INFLATION IS DRIVEN BY COST AND DEMAND FACTORS
FED'S GOOLSBEE SAYS ALL OPTIONS REMAIN OPEN AND THE FED MUST REDUCE INFLATION TO TARGET, THAT IT WOULD BE A MAJOR CONCERN IF INFLATION EMBEDS INTO EXPECTATIONS, AND THAT THE FED WILL HAVE TO ACCEPT IT IF INFLATION REMAINS PERSISTENT
FED’S GOOLSBEE, ON PBS NEWSHOUR, SAYS THE U.S. FACES A GENUINE INFLATION CHALLENGE, THAT CPI WAS “BORDERLINE TROUBLING” ON INFLATION, AND THAT HIS BIGGEST CONCERN IS SERVICES INFLATION REMAINING HIGH AND EMERGING WIDESPREAD PRICE OVERHEATING
FED’S PAULSON SAYS THE AI AND ENERGY EFFECT ON INFLATION IS DIFFICULT TO MEASURE, AND THAT THE PRECISE TRAJECTORY OF RATE POLICY HINGES ON ECONOMIC DEVELOPMENTS
FED’S PAULSON SAYS CPI DATA INDICATES INFLATION IS STILL AN ISSUE, WITH INFLATION OUTLOOK RISKS ELEVATED AND UNDERLYING INFLATION REMAINING BETWEEN 2.5% AND 3%