Fed's Goolsbee: grappling with inflation will make upcoming meetings 'live'

Aug 13 (Reuters) - Chicago Federal Reserve Bank President Austan Goolsbee said the U.S. central bank is grappling with understanding whether tariffs will push up inflation just temporarily or more persistently, which would inform its decision on when to cut rates.

"As we go into the fall, these are going to be some live meetings and we're going to have to figure it out," Goolsbee said at the Greater Springfield Chamber of Commerce in Springfield, Illinois. "The hardest thing that a central bank ever has to do is to try to get the timing."

He said he is uneasy assuming tariffs will be just a one-time shock to inflation and wants to see more data before coming to a view on whether an interest-rate cut is warranted.