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Fed's Goolsbee Urges Caution on Rate Cuts Amid Rising Inflation

10/13/2025

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Summary

Story summary

Austan Goolsbee, president of the Federal Reserve Bank of Chicago, is uneasy about rate cuts while inflation stays above 2%.
Inflation has risen in three of the last four months and remains above the Fed's 2% target.
President Donald Trump has pressed for lower rates, but Goolsbee cites independence.
Tariffs have raised costs for consumers, with some companies planning price hikes.
The Fed's rate decision remains complicated by the government shutdown, limiting data.

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Story summary

Austan Goolsbee, president of the Federal Reserve Bank of Chicago, is uneasy about rate cuts while inflation stays above 2%.
Inflation has risen in three of the last four months and remains above the Fed's 2% target.
President Donald Trump has pressed for lower rates, but Goolsbee cites independence.
Tariffs have raised costs for consumers, with some companies planning price hikes.
The Fed's rate decision remains complicated by the government shutdown, limiting data.