Fed officials push back on rate cut over inflation worries

Business Dec 13, 2025

Two top Federal Reserve officials, Austan Goolsbee (Chicago Fed) and Jeffrey Schmid (Kansas City Fed), just voted against the latest interest rate cut.
They're concerned that inflation is still too high—partly due to rising import taxes—and think it's smarter to hold off for now.

Why the hesitation?

Goolsbee wants to wait for fresh inflation and jobs data, which got delayed after a long government shutdown.
Schmid argues that with prices still up, the Fed should keep things tight until there's clearer evidence that inflation is cooling down.
Both say better info is key before making big money moves.