Goolsbee says inflation not heading toward 2%, Fed must act
Austan Goolsbee said inflation is not on track to reach 2% and the Fed must act to preserve credibility.
10 min ago7 min read
US producer prices rise 6.5% in October, slightly below forecasts
US October PPI rose 6.5% year-on-year, just below the 6.6% forecast, offering slight relief to inflation concerns.
13/11/2026 14:013 min read
- The previous reading was 6.3%
- Final demand PPI came in at 0.3% month-on-month, against an expected 0.4%
- Last month's reading was 1.3%
- Stripping out food and energy, the annual increase was 5.0%, matching expectations
- The prior ex-food and energy figure was also 5.0%
- On a monthly basis, the core rate excluding food and energy was 0.3%, in line with estimates
- This compares with 0.7% in the prior month
- Excluding food, energy and trade services, the annual pace was 4.9%, versus 5.0% previously
- The monthly change in that narrowest measure was 0.5%, matching the prior month
Worries over rising inflation have been mounting in the market, but this data offered a small measure of relief, prompting some buying in bonds and a mild sell-off in the US dollar. Federal Reserve Governor Christopher Goolsbee is due to appear on CNBC shortly; he recently described inflation as being at a level he called
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