US Stock Market: Fed's Goolsbee sees early signs of relief in services inflation, says core price pressures remain elevated

Federal Reserve official Austan Goolsbee said core inflation remains well above the Fed's target, calling price stability the central bank's primary concern over employment. He noted early signs of relief in services inflation but warned that services prices remain stubbornly high and moderating wage growth offers no assurance of sufficient disinflation. The Fed's updated June dot plot showed 9 of 18 policymakers expect at least one rate increase before year-end, while Chair Kevin Warsh said no participant advocated a hike at the June 16-17 meeting, and Goolsbee kept his stance data-dependent.