Federal Reserve Bank of Chicago President Austan Goolsbee said inflation remains the main issue facing the U.S. economy, signaling that the central bank is in no rush to cut interest rates. Speaking at an event in Chicago, Goolsbee said the labor market remains resilient but that policymakers need more months of good inflation data before gaining confidence that price pressures are sustainably moving toward the Fed’s 2% target. He gave no timetable for easing. Market expectations for near-term cuts have weakened after stronger-than-expected inflation and employment data, with the probability of a cut at the May meeting falling below 30% on the CME FedWatch tool. Treasury yields edged higher and stock futures trimmed gains after the remarks. Goolsbee has also warned that political interference could damage the Fed’s credibility, unanchor inflation expectations, lift long-term borrowing costs and force larger rate increases. For households and businesses, a higher-for-longer policy would keep financing costs elevated, although savings accounts and certificates of deposit may continue offering higher yields.