Fed's Goolsbee: Price pressures appear to be spreading, services inflation has not fallen back

November 11: Federal Reserve's Goolsbee stated that the latest government inflation report shows underlying trends have not improved, which is "somewhat concerning"; particularly noteworthy is that price pressures appear to be spreading, no longer limited to energy prices or AI-related sectors. Goolsbee said: "Services inflation has not fallen back, and this is likely not primarily driven by oil prices, tariffs, or other potentially temporary factors. Therefore, we are facing a real, evolving inflation problem that must be addressed." "What I am worried about is that this inflationary pressure is turning into overall economic overheating—prices of various goods and services are rising too fast, far above our 2% inflation target."