Fed's Goolsbee (2027 Voter) reiterates that services inflation has accelerated over the past few months, complicating the argument that elevated inflation is only tariff driven
ORIGINAL · NewsquawkFed's Goolsbee (2027 Voter) reiterates that services inflation has accelerated over the past few months, complicating the argument that elevated inflation is only tariff drivenRead originalHide original
Further rate cuts may need to wait. Problems have been on the inflation side. Employment and growth are both relatively stable. The primary driver for growth has been consumer spending. Data centre activity looks like traditional economic overheating.
The report cites accelerating services inflation as a complication for a tariff-only explanation of elevated inflation and says further rate cuts may need to wait.
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Further rate cuts may need to wait. Problems have been on the inflation side. Employment and growth are both relatively stable. The primary driver for growth has been consumer spending. Data centre activity looks like traditional economic overheating.
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