On Wednesday’s broadcast of the Fox News Channel’s “America Reports,” Chicago Federal Reserve Bank president Austan Goolsbee discussed the January inflation report and stated that the numbers are “not the result of any policy of the new administration. We’ve been dealing with inflation that was too high for some years.” And noted that there was a temporary jump in inflation at the start of 2024 as well.
Goolsbee said, “There’s no sense in which the inflation numbers that we got today — which are concerning, though they’re just one month, they are concerning — they’re not the result of any policy of the new administration. We’ve been dealing with inflation that was too high for some years. I joined the Fed about two years ago, the inflation rate was already very high, and we’ve, at the Fed, been spending our time trying to get it down.”