Fed's Goolsbee (2027 voter) says there has been some progress and some points of "warning" re. inflation, want to see more information - CNBC. Progress on the shelter side of things, still concerned about services inflation.

• The recent CPI was, partially, pulled down due to base effects.
• Hopes that the impact of tariffs is a one time thing on inflation; could be a "yes", if it doesn't move through to services.
• Still several more rate cuts that could happen in 2026. But, need to see progress on data.
• Says, if inflation runs persistently high, then they are being looser than they otherwise would be. Sees 3% as a "loose" neutral estimate.

• Big fan of him, known him for a long time. Thing he is a reputable person.

Fed's Goolsbee highlights mixed signals regarding inflation, noting progress on shelter costs but concerns about services inflation. This signals a cautious approach from the Fed, indicating that while they acknowledge some improvement, they're wary of persistent inflation risks that could impact future rate decisions. Traders should watch closely for further data as it may influence the rate path in the coming year.