Fed president warns inflation is 'going the wrong way' as tariff concerns mount

On Tuesday, Federal Reserve Bank of Chicago President Austan Goolsbee warned about rising inflation and said it isn't clear whether tariff-induced price hikes will be a one-off or could pose a more persistent challenge for policymakers if stagflation sets in.Goolsbee spoke with FOX Business' Edward Lawrence at the Midwest Agriculture Conference on Tuesday and said that inflation's recent rise is concerning after the pace of price growth was easing from the 40-year high reached in 2022 amid the post-COVID inflation surge."I would be nervous that we've spent four and a half years with inflation