Goolsbee Seeks Evidence of Sustained Inflation Decline

Federal Reserve Bank of Chicago President Austan Goolsbee expressed cautious optimism about inflation rates, saying recent data indicates that price shocks from last year are subsiding. Speaking to Bloomberg News on August 14, 2026, Goolsbee noted that this summer's consumer price index readings provide some encouragement that inflation is cooling down.

Goolsbee emphasized the need for more evidence of sustained inflation decline before reaching the Fed's target rate of 2%. He believes that recent tariffs and higher oil costs are finally starting to work their way through the economy, which should lead to a decrease in inflation rates.