In a CNBC interview, Chicago Fed President Austan Goolsbee says the central bank has "definitely got work to do" on inflation, which he calls above the 2% target for nearly six years and spreading beyond demand overheating tied to the AI data center buildout, and he expects the Fed will likely need to act on the latest data. The Bureau of Labor Statistics reported the producer price index rose 0.3% in October, a 6.5% annual gain, while futures markets fully price a quarter-point rate increase at the Fed's Dec. 8-9 meeting.