Goolsbee Says Fed in Sticky Spot as Jobs, Price Goals in Tension

Federal Reserve Bank of Chicago President Austan Goolsbee reiterated that officials should proceed carefully with rate cuts at a time when they are facing pressure to both their inflation and employment goals.

“This uptick of inflation that we’ve been seeing, coupled with the jobs, payroll numbers deteriorating, have put the central bank in a bit of a sticky spot where you’re getting deterioration of both sides of the mandate at the same time,” Goolsbee said Friday on CNBC.