Fed's Goolsbee is getting concerned about inflation risks

Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee noted on Wednesday that although he supports further moves to lower interest rates, he is getting concerned about ongoing inflation pressures, specifically claims about a "one time" inflation bump from tariffs.

Key highlights

Starting to get more concerned about inflation heading the wrong direction.
Counting on inflation being temporary makes me nervous.
During BLS downtime, we lack many indicators about inflation.
Anticipates tariff impacts will be temporary on inflation.