Fed's Goolsbee calls inflation report 'borderline disturbing' as central bank weighs more hikes

Chicago Fed President Austan Goolsbee called October's consumer price index report "borderline disturbing" after inflation rose more than economists expected, fueling debate inside the central bank over further rate hikes. The hotter-than-forecast CPI reading underscores persistent price pressures that have kept the Fed cautious about declaring progress on inflation. Goolsbee's remarks signal that officials remain open to additional tightening even as they weigh the risks of overtightening. Investors will watch upcoming inflation and labor data, along with Fed commentary, for clues on whether another hike is likely at the central bank's next policy meeting.