Federal Reserve official Larry Goolsbee has described the latest consumer price index (CPI) report as “borderline disturbing,” after the data showed inflation rising in October at a pace that exceeded market expectations.
The CPI, a key gauge of inflation, climbed more than analysts had forecast for the month. The unexpected increase has prompted concern among Fed officials who are closely monitoring price pressures.
Goolsbee, who serves as the Fed’s senior adviser on economic policy, said the report’s figures suggest that inflationary momentum may be harder to tame than previously thought.
“The inflation report is borderline disturbing,” Goolsbee said.
In light of the data, the Federal Reserve is reassessing its stance on further interest‑rate hikes, as it seeks to balance the need to curb inflation with the goal of sustaining economic growth.
<small>Source: CNBC — read the original story there.</small>