Event Brief
Fed official says fighting inflation will be painful
By The BriefBrief · Sources (17)
Filed: Sep 21, 2026 at 2:13 PM ET
Summary: Austan Goolsbee, president of the Federal Reserve Bank of Chicago, said in London that persistent supply shocks have kept inflation high. He warned that, unlike temporary shocks where the Fed could wait, repeated supply disruptions leave it little option but to raise rates, which would push employment below target.
WHO: Austan Goolsbee
WHAT: Said the Fed may need to raise interest rates to bring inflation back to target, even if it means higher unemployment.
WHEN: Sep 21, 2026 at 1:08 PM ET
WHERE: London
WHY: Persistent supply shocks, including tariffs and higher oil prices tied to the Iran war, have pushed inflation higher.
Sources (17):
ABC News,
ABC7 News,
Al Jazeera,
Bloomberg,
CBS News,
CNBC Top News,
Euronews,
Financial Times,
Japan Times,
MarketWatch,
NBC News,
NPR,
New York Times,
PBS NewsHour,
South China Morning Post,
The Independent,
UPI
—
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