Chicago Fed's Goolsbee Says Central Bank 'Has Definitely Got Work to Do' on Inflation

Chicago Federal Reserve President Austan Goolsbee said the central bank still has more to do in its fight against inflation, signaling that policymakers are not yet ready to declare victory on price pressures. In remarks reported by CNBC, Goolsbee said the Fed "has definitely got work to do" on inflation, underscoring the cautious stance among officials even as the central bank weighs the path of interest rates.

The comments come as investors scrutinize every signal from Fed officials for clues on the direction of monetary policy. Goolsbee's language suggests the central bank remains focused on bringing inflation down rather than pivoting toward easing, a message that carries weight for rate-sensitive assets including Treasuries, equities and the dollar.

His remarks follow the Fed's decision to change its meeting schedule, with the central bank saying its October 2027 meeting will not include a vote on interest rates. That procedural switch, reported separately by CNBC, reflects adjustments to the Fed's calendar rather than a shift in the policy stance itself.

For markets, Goolsbee's comments reinforce the view that the Fed is not rushing to loosen policy. Traders have been parsing official commentary for signs of when the central bank might begin cutting rates, and any indication that inflation remains a concern tends to push back expectations for easing. Goolsbee's remarks suggest officials want to see further progress before changing course, keeping the focus squarely on incoming inflation data and the Fed's next policy decisions.