Chicago Federal Reserve President Austan Goolsbee, speaking on CNBC from Jackson Hole, said he agrees with Fed Chair Kevin Warsh on the details of the economy and that inflation is the Federal Reserve's main issue right now. (USD)

The comments came from the Kansas City Fed's annual economic symposium in Jackson Hole, Wyoming, a gathering that regularly draws Fed policymakers and has historically served as a venue for signaling shifts in the monetary policy outlook.

On inflation, Goolsbee said it is important to understand its nature — whether it stems from supply shocks or is demand-driven. He noted it is "pretty clear" that inflation caused by overheated demand is hard to address. The distinction matters for policy: supply-driven price pressures can fade as disruptions ease, while demand-driven inflation typically requires tighter monetary policy for longer to bring down.

Goolsbee also acknowledged that inflation has persisted longer than expected.

Regarding monetary policy, Goolsbee said he was comfortable with the Federal Reserve's decision to hold rates steady at the July FOMC meeting. He added that he does not hold a strong opinion about the number of FOMC meetings — a reference to ongoing discussion about the Fed's policy framework and meeting structure, which the Fed has been reviewing as part of its periodic framework assessment.

Source: Investinglive