Federal Reserve's Goolsbee: Inflation has exceeded the energy category, and the Federal Reserve is not yet on the path to returning to 2%

Chicago Federal Reserve President Goolsbee stated in an interview with CNBC on Friday that even with the rapid decline in oil prices, refining capacity still "has issues," which will keep diesel and jet fuel prices elevated.

He mentioned that inflation is currently spreading to categories where prices are not driven by rising energy costs, and if demand overheats, the Federal Reserve cannot ignore inflation. Goolsbee believes that data centers are driving up prices, while service inflation and continuously rising healthcare costs give the impression that they will not quickly retreat in the short term.

Goolsbee added that the Federal Reserve is currently not on track to achieve the 2% inflation target, and the central bank needs to address this issue to ensure that demand does not overheat; if data indicates that inflation is worsening, it will prompt the Federal Reserve to take more aggressive action in policy.