Fed's Goolsbee calls inflation report 'borderline disturbing' as central bank weighs more hikes

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Chicago Federal Reserve President Austan Goolsbee called the latest inflation data "borderline disturbing." "It's another distressing report — borderline disturbing," Goolsbee said in an interview with PBS Tuesday. "We have got a real inflation issue on our hands that has been developing," Goolsbee said, according to a transcript of his remarks. "We're going to have to deal with that." The consumer price index rose 0.4% on a seasonally adjusted basis in October, according to the Bureau of Labor Statistics' Tuesday release. That was higher than economists had predicted. Goolsbee said he had not seen drivers of prices like tariffs fade over time like he hoped. He also said continuously high inflation on services concerned him.