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Fed's Goolsbee: Inflation Concerns Rise Amid Middle East Tensions

3/23/2026

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Summary

Story summary

Austan Goolsbee, president of the Federal Reserve Bank of Chicago, said inflation concerns rose over unemployment amid Middle East tensions.
In a CNBC interview, he said Fed policy will depend on how situation evolves.
He said rates could rise or fall based on inflation trends and cautioned against mistakes.
Fed officials held rates steady, but markets priced in hikes, and gas prices could lift inflation toward 2% target.

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Story summary

Austan Goolsbee, president of the Federal Reserve Bank of Chicago, said inflation concerns rose over unemployment amid Middle East tensions.
In a CNBC interview, he said Fed policy will depend on how situation evolves.
He said rates could rise or fall based on inflation trends and cautioned against mistakes.
Fed officials held rates steady, but markets priced in hikes, and gas prices could lift inflation toward 2% target.