Chicago Fed President Goolsbee labels latest inflation report borderline disturbing

Chicago Federal Reserve President Austan Goolsbee called the October consumer price index rise of 0.4% distressing and borderline disturbing. The data marked the third straight month of outsized price increases and came in higher than economists had predicted. Other central bank officials also weighed in on the hot inflation report, suggesting the Federal Open Market Committee may need to act more decisively to rein in inflation. The discussions arrive at a critical juncture for the Federal Reserve as members weigh their upcoming interest-rate moves for the months ahead.