Austan Goolsbee, Chicago Fed head, urges quick action on inflation
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Austan Goolsbee, who heads the Federal Reserve Bank of Chicago, is urging quick action to fight rising prices in the US
Speaking on Monday, he pointed out that inflation and the rapid growth of AI are putting extra pressure on the economy.
He called for solutions to what he described as a "cost side and inflation side failure" within the Fed's reach.
Fed officials weigh another rate increase
With energy prices up and services getting more expensive, Fed officials are thinking about raising interest rates again, even after last September's hike.
Goolsbee doesn't get a vote this year but made it clear: stronger policies might be needed to hit that 2% inflation goal.