A post by @DeItaone on X.

Chicago Fed President Austan Goolsbee said services inflation is starting to "kick up" and remains the economy's "big problem," acknowledging policymakers must "come to terms with failure on inflation." He also flagged data centers as resembling "old-fashioned overheating," pointing to concentrated investment pressure in that sector. The remarks signal persistent price pressures in services that could keep the Federal Reserve cautious on rate cuts. Goolsbee characterized employment and growth as "pretty" solid, suggesting the labor market is not the immediate concern. Markets will watch upcoming services inflation prints and data-center capital spending for confirmation of his warnings.