Fed's Goolsbee: Inflation Side Of Mandate Going Wrong -- Market Talk

Dow Jones05-13

1436 ET - Chicago Fed President Austan Goolsbee says that the unexpectedly disappointing part of today's CPI report was services inflation remaining elevated. After inflation reached its highest level in three years in April, Goolsbee says the inflation part of the Fed's dual mandate is going the wrong way even beyond energy and tariff-related shocks, during a fireside chat in Rockford, Illinois. On the other side of the dual mandate, Goolsbee characterized the labor market as being "stable without being good." "One side of the mandate is going wrong and the other side is not going wrong," he says as he acknowledges inflation has remained over target for five years. (jessica.coacci@wsj.com)

(END) Dow Jones Newswires

May 12, 2026 14:36 ET (18:36 GMT)

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On the other side of the dual mandate, Goolsbee characterized the labor market as being \"stable without being good.\" \"One side of the mandate is going wrong and the other side is not going wrong,\" he says as he acknowledges inflation has remained over target for five years. 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