Goolsbee: AI-driven inflation 'out of line', Fed rate cuts need progress

Chicago Fed President Austan Goolsbee said inflation linked to the AI boom is 'out of line' and that progress on inflation is needed to resume rate cuts. This signals a hawkish tilt from a usually dovish official, suggesting the Fed may hold rates longer. The comment is from an interview with Semafor, adding to uncertainty about the Fed's next move.