Fed's Goolsbee warns supply shocks now drive lasting inflation
- —Goolsbee: PCE inflation was 3.7% year-over-year in July 2026, nearly double the 2% target
- —Drivers include tariffs, post-COVID supply chain damage and oil near $100 a barrel
- —One additional rate hike may not be enough if demand keeps running hot
- —Forecasters now expect inflation to peak in 2027, not late 2025
Why it matters: The signal of possible further rate hikes pressures risk assets including bitcoin and supports Treasury yields.
Source: Crypto Briefing