Fed’s Goolsbee says latest consumer price data brought ‘relief’

(Reuters) – Federal Reserve Bank of Chicago President Austan Goolsbee on Friday said he felt “relief” after data this week showed consumer inflation in May did not rise from the month earlier.    “We would be feeling very good” if there were a lot more months like May’s data, Goolsbee told the Iowa Farm Bureau Economic Summit in Ankeny, Iowa. Still, he said, there needs to be more progress, and he said he will be parsing what will be “a lot of data” before any decision on a possible rate cut.

(Reporting by Ann Saphir; editing by Diane Craft)