Chicago Fed President John Goolsby, a 2026 voting member, believes the Federal Reserve may continue raising interest rates. On November 13th, in an interview with CNBC, Goolsby stated that inflation has spread beyond the effects of energy and tariffs, with strong demand from AI infrastructure projects also pushing up prices. He believes inflation is not currently on its way back to 2%, and upcoming data, such as core PCE, could influence whether the Fed needs to accelerate the pace of rate hikes. AI investment impacts inflation because the money spent on building data centers is being used for things many industries need. If this pressure continues to spread, the Fed will have more reason to further tighten policy. Rate hikes increase borrowing costs; businesses will have to pay more interest on loans for expansion, and households may reduce loan-based consumption, thus mitigating inflation by cooling overall investment and consumer demand. A @Gate account, trading more markets.