Fed's Goolsbee Calls US Inflation 'Borderline Disturbing'

What Happened

Chicago Federal Reserve President Austan Goolsbee called the United States October inflation reading 'borderline disturbing' during a PBS NewsHour interview on 11 November 2026, according to CNBC. The Bureau of Labor Statistics reported that the consumer price index (CPI) — a broad measure of prices paid by consumers — rose 0.4% on a seasonally adjusted basis in October, coming in above economists' expectations and marking the third straight month of elevated increases.

Goolsbee said he had not seen price drivers such as tariffs fade as he had hoped, and that persistently high services inflation was a particular concern. He also warned that if consumers and businesses begin to expect ongoing high inflation, cooling it could become 'much more painful.'

The Numbers

The October CPI rose 0.4% on a seasonally adjusted monthly basis, according to the Bureau of Labor Statistics. The Federal Open Market Committee (FOMC) — the Fed's rate-setting body — last raised rates by a quarter percentage point in September, bringing the target range to 3.75%–4%, before holding steady in October.

Following the report, fed funds futures tracked by CME's FedWatch tool moved to unanimously price in a rate hike at the December FOMC meeting. The probability of a larger half-point increase at that meeting stood at 15%. Odds of rates reaching 4.25%–4.5% by the January meeting — which would require either one half-point rise or two quarter-point hikes — were at 60%, with a 10% chance of rates reaching 4.5%–4.75% by then, according to CNBC.

What Other Officials Said

Several other Fed officials also spoke on 11 November 2026. Fed Governor Christopher Waller, speaking in London, said a hot inflation report could push him to advocate for a half-point December hike, and specifically named a core CPI reading — which strips out volatile food and energy costs — of 'around 0.3' as a threshold. The actual core CPI met that level. Dallas Fed President Lorie Logan said she sees a need for two additional quarter-point increases and suggested the FOMC could move more rapidly in the coming months. Philadelphia Fed President Anna Paulson took a more cautious view, saying 'further gradual tightening seems appropriate' while acknowledging that 'inflation pressures are still very much with us.' Waller, Logan and Paulson are voting FOMC members this year; Goolsbee becomes a voting member next year.

Why It Matters for Job Seekers

• If you work in or are applying to interest-rate-sensitive sectors such as finance, real estate or technology, watch the FOMC's December meeting decision and any subsequent official statements for signals about how borrowing costs may affect hiring budgets at companies in those fields.
• If you are tracking the technology or IT sector, check the next round of quarterly earnings releases from major employers, as higher rates can affect company valuations and workforce planning decisions.
• If you are monitoring the broader jobs market, note the next US CPI release from the Bureau of Labor Statistics and the FOMC's January meeting, both of which will indicate whether rate pressure on employers is easing or intensifying.
• If you follow macroeconomic conditions that shape hiring, the CME FedWatch tool is a publicly available resource that shows how markets are pricing future rate decisions ahead of each FOMC meeting.

Audience note: This story is relevant to anyone tracking US monetary policy and its potential effects on employer costs and hiring conditions worldwide. This is a news summary, not investment advice.