![\"Chicago](\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2025\/08\/108186521-17552624091755262405-41194753260-1080pnbcnews.jpg\")
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Federal Reserve President Austan Goolsbee said Friday a mixed bag of inflation data this week coupled with lingering uncertainty over tariffs have given him some hesitation about lowering interest rates.<\/p>\n
Previously, Goolsbee has spoken of a “golden path” that would combine moderating inflation and a stable labor market and lead to lower rates.<\/p>\n
But in a CNBC interview Goolsbee said he still wants to see some more convincing data before the Federal Open Market Committee meets on Sept. 16-17. Goolsbee is one of 12 FOMC voters this year.<\/p>\n
Reports this week on consumer and producer prices “put in a note of unease” on where inflation is headed, as services prices “which are not obviously going to be transitory” are “kicking up,” he said.<\/p>\n
“So I feel like we still need another [inflation report], at least, to figure out if we’re still on the golden path,” Goolsbee said during a “Squawk Box<\/a>” interview.<\/p>\n The July consumer price index<\/a> was relatively in line with market forecasts, though the core reading that excludes food and energy nudged higher to 3.1%, a bit above Wall Street expectations. However, the July producer price index<\/a>, which measures wholesale items, posted a surprisingly high 0.9% monthly gain that was the largest in about three years.<\/p>\n The data is being examined particularly closely for clues about the impact tariffs are having on inflation<\/a>. While neither report showed significant obvious impacts, many economists believe the import duties President Donald Trump<\/a> has imposed are slowly making their way into the data and will show up in coming months.<\/p>\n “It all depends on the data and what’s the economic outlook. If we keep getting inflation reports like [previous] ones … I would be very comfortable that, hey, the dust is out of the air, it looks like we’re still where we were, which is a strong economy with inflation coming back down,” Goolsbee said.<\/p>\n “In that circumstance … the right thing to do [is] to just bring the rates down to where we think they’re going to settle,” he added. “We’ve got to get some clarity from the numbers.”<\/p>\n Markets are placing a near certainty that the FOMC votes to lower the benchmark federal funds rate by a quarter percentage point in September, from the current 4.25% to 4.50% level. However, there are some misgivings about what happens from there, with 55% odds of another reduction in October and just a 43% probability of a third move in December, according to the CME Group’s FedWatch<\/a>.<\/p>\n Don\u2019t miss these insights from CNBC PRO<\/p>\n","protected":false},"excerpt":{"rendered":"Federal Reserve President Austan Goolsbee said Friday a mixed bag of inflation data this week coupled with lingering…\n","protected":false},"author":2,"featured_media":75439,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45800,879,6826,1386,45,161,49,48,1377,1376,46,10425,135,9316,100,14829],"class_list":["post-75438","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-austan-goolsbee","tag-breaking-news","tag-breaking-news-economy","tag-breaking-news-markets","tag-business","tag-business-news","tag-ca","tag-canada","tag-donald-j-trump","tag-donald-trump","tag-economy","tag-federal-reserve-system","tag-inflation","tag-interest-rates","tag-markets","tag-prices"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/75438","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=75438"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/75438\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/75439"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=75438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=75438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=75438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}