April CPI data signals stalled progress on inflation, prompting concerns from Chicago Fed President Austan Goolsbee.
The U.S. consumer price index rose in April, marking a reversal in inflation progress, according to recent data. Chicago Fed President Austan Goolsbee described the trend as ‘going the wrong way,’ indicating no improvement in price pressures.
The report follows months of mixed signals on inflation, with prior prints showing gradual cooling. Analysts had anticipated further easing, but April’s figures suggest renewed upward momentum, complicating the Fed’s policy outlook.
Markets are reassessing expectations for interest rate cuts as inflation remains stubbornly above the Fed’s 2% target.