Bloomberg Talks Eric Rosengren Previews CPI Report
Oct 23, 2025
Eric Rosengren, the Former President of the Federal Reserve Bank of Boston and visiting scholar at MIT Golub Center, shares his insights on the upcoming US CPI report. He anticipates a 3.1% overall and core CPI, influenced by tariffs and rising food prices. Rosengren emphasizes the need for the Fed to closely monitor labor, food, and energy pressures. He discusses the implications of policy choices on inflation and cautions against cutting rates without solid labor data, while defending the CPI's reliability despite recent staffing cuts.
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CPI Likely Back Up Near 3.1%
- Eric Rosengren expects headline and core CPI at about 3.1%, up from 2.9% previously.
- He views this as evidence inflation isn't moving back toward 2% and remains a policy challenge for the Fed.
Tariffs And Food Prices Driving Inflation
- Tariffs and rising food prices are contributing meaningfully to recent goods and food inflation.
- Rosengren says these trends reduce progress toward the Fed's 2% inflation goal and complicate policy choices.
Fed Can't Ignore Policy-Linked Inflation
- Rosengren argues the Fed should not ignore tariff-driven or food-price inflation despite its source.
- He notes inflation has stayed above 2% for over four years, so the Fed needs to see real improvement.