Goolsbee Says Rising Energy Costs May Delay Rate Cuts
Chicago Fed President Austan Goolsbee says energy costs from the war in Iran may prevent rate cuts. He noted inflation must return toward the 2% annual target.
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The United States Federal Reserve must witness a clear downward trajectory in inflation for interest rate cuts to remain a viable option this year, according to Federal Reserve Bank of Chicago President Austan Goolsbee. Speaking on Tuesday, Goolsbee warned that near-term progress is being threatened by a significant energy price shock resulting from the conflict involving Iran.
