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.
Previously, Goolsbee has spoken of a “golden path” that would combine moderating inflation and a stable labor market and lead to lower rates.
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.
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.
“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” interview.
