According to Bloomberg, Chicago Federal Reserve President Austan Goolsbee indicated on Friday, August 14, that the central bank should wait 3-4 months of improved inflation readings before considering further rate hikes. Goolsbee noted that while recent Consumer Price Index (CPI) data showed encouraging signs with tariff and oil price impacts being absorbed, inflation remains elevated above the Fed's 2% target. He supported the Fed's decision to hold rates steady in July, citing inflation as the primary concern. Market expectations for Fed rate hikes have shifted sharply; the probability of a September hike has fallen to approximately 30%, with traders now expecting only one rate increase by year-end, down from prior forecasts of at least two hikes in 2026.
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