Federal Reserve Bank of Chicago President Austan Goolsbee has warned that inflation risks could outweigh the case for more interest rate cuts. He stressed that lowering rates too aggressively could undermine the central bank’s progress in containing price pressures. His comments came during the 2025 Midwest Agriculture Conference, where he discussed the economic outlook amid the possibility of a government shutdown. Goolsbee said the Fed is closely monitoring inflation trends. His view echoed that of Fed Governor Christopher Hammack, who recently backed keeping policy restrictive over pursuing fresh rate cuts.