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Now Less Optimistic on Disinflation Progress Says Fed's Goolsbee, Sonic AI
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Now Less Optimistic on Disinflation Progress Says Fed's Goolsbee
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May 8, 2026
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10:30
Interview
Now Less Optimistic on Disinflation Progress Says Fed's Goolsbee
Austan Goolsbee
(President and CEO, Federal Reserve Bank of Chicago, guest)
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Executive Summary
Austan Goolsbee expresses growing concern over U.S.
inflation, noting that progress has not only stalled but is now deteriorating, shifting his outlook from optimistic to less optimistic about potential interest rate cuts.
With a stable job market, he argues the Federal Reserve must prioritize tackling rising inflation, particularly in core services, to maintain its credibility and prevent expectations from becoming unanchored.
Goolsbee is skeptical of using forward guidance as a policy tool when not at the zero-lower-bound and is open to re-evaluating communication methods like the dot plot under new Fed leadership.
He highlights the challenge of stagflationary shocks (e.g., oil prices, tariffs), which complicate monetary policy by driving up prices while threatening employment, putting the central bank in a difficult position.
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Deteriorating Inflation Outlook
Central Bank Credibility and Mandate
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