Fed's Goolsbee says labor market stable, inflation going the wrong way

Chicago Federal Reserve President Austan Goolsbee said on Monday that with the labor market stable, he is focused on figuring out whether too-high inflation will stay that way persistently or if it will recede as the effect of high tariffs fades and if the conflict in the Middle East gets resolved.

"We've been dealing with an inflation problem that's well above the target and has been going the wrong way," Goolsbee said on the Marketplace radio program.

"What's been on my mind is, what is the evidence that this is going to be temporary, and that we're going to get back on path to 2%, which is what we've promised."

(Reporting by Ann Saphir; Editing by Nia Williams)

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This story was originally published June 22, 2026 at 5:32 PM.