# Chicago Fed’s Goolsbee says central bank ‘has definitely got work to do’ on inflation

- URL: https://talkfuse.com/story/chicago-feds-goolsbee-says-central-bank-has-definitely-got-work-to-do-on-inflation/
- Published: 2026-11-13T14:22:07+00:00
- Updated: 2026-11-13T22:56:09+00:00
- Original publisher: CNBC (publisher lean: Centre)
- Original article: https://www.cnbc.com/2026/11/13/chicago-feds-goolsbee-says-central-bank-has-definitely-got-work-to-do-on-inflation.html
- Topics: Business, Economy

## Key points

- Goolsbee says inflation is moving further from the Fed’s 2% target.
- Producer prices rose 6.5% year on year in October.
- Markets expect a rate rise in December, with a smaller chance of a larger move.

## Summary

Chicago Federal Reserve President Austan Goolsbee said inflation data suggest the central bank has more work to do to restore its credibility and return inflation to target. He warned that price pressures appear to be rising again, making a rate increase at the Fed’s next meeting a possibility.

US producer prices rose 0.3% in October, below expectations, but were up 6.5% year on year, their largest annual gain since November 2022. Consumer prices also rose slightly more than expected; markets were pricing in a quarter-point rate increase for the 8–9 December meeting, with a greater than 10% chance of a half-point rise. Goolsbee, who is not currently a voting member, cited persistent supply pressures and demand linked to AI data-centre construction.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.