Federal Reserve Bank of Chicago President Austan Goolsbee said he would like to see at least one more inflation report to be sure persistent price pressures aren’t picking up.

"The hardest thing that the Fed ever has to do is get the timing right at moments of transition,” Goolsbee said on NBC News’ “Here’s the Scoop” podcast.

Chicago Fed's Austan Goolsbee says rising producer prices and sticky services inflation raise concerns about tariff-driven stagflation.