Federal Reserve's Goolsbee: Service Sector Inflation Not Easing, Price Pressures Spreading

On November 11, Federal Reserve's Goolsbee stated that the latest government inflation report shows no improvement in underlying trends, which is concerning. Price pressures are spreading and are no longer limited to energy prices or AI-related sectors. Goolsbee pointed out that service sector inflation has not eased and may not be primarily driven by oil prices, tariffs, or other temporary factors. He emphasized that the current inflation issue is real and evolving, requiring measures to address it. He is worried that this inflation pressure could lead to an overheating economy, with the pace of price increases for goods and services far exceeding the set 2% inflation target.

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