Chicago Federal Reserve Governor Austan Goolsbee welcomed the slowdown in inflation in April, but said there is still room for further decline in inflation.
Goolsbee said after the release of the CPI data on Wednesday that he would like to see more such reports before supporting interest rate cuts.
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Inflation showed “an improvement from last time, which is basically in line with our expectations, but it is still higher than the level of the second half of last year,” Goolsbee said in an interview with the Marketplace radio program. “So there's room for improvement.”
Goolsbee, who did not have the right to vote on policies this year, said the road to reducing inflation was a difficult one and pointed out that housing inflation is a key indicator he is concerned about.