Chicago Federal Reserve Bank President Austan Goolsbee warned on May 7 not to hastily cut interest rates due to a surge in productivity growth, and said such measures could unintentionally fuel inflation. Goolsbee stated at the Milken Institute Global Conference that the Fed's response depends on whether the productivity increase is unexpected or within expectations. If the growth is unexpected, it could suppress inflation and justify rate cuts; if it is within expectations, it could lead to more investment and spending, thereby pushing up inflation and prompting rate hikes. He also emphasized the need to pay attention to changes in consumer and investment demand driven by future growth expectations.