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Goolsbee: Recent inflation data was 'bad news' - Fox News

BY Reuters | ECONOMIC | 02:26 PM EDT

By Howard Schneider

WASHINGTON, May 2 (Reuters) - Inflation data last week was "bad news" for the U.S. Federal Reserve and means the Fed still needs to be careful with rate cuts until inflation begins to recede, Chicago Fed President Austan Goolsbee said on Saturday.

"We have got to get some assurance that we are going back to the 2% inflation target," Goolsbee said on Fox News, referring to data last week showing the Personal Consumption Expenditures price index, the central bank's preferred inflation measure, rose at a 3.5% annual rate in March.

(Reporting by Howard Schneider Editing by Rod Nickel)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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