1 of 1
Story summary
- Austan Goolsbee, president of the Federal Reserve Bank of Chicago, says the Iran war could raise inflation and delay rate cuts in 2026.
- Rising oil prices have diminished his earlier optimism about rate reductions.
- The Fed left its benchmark rate unchanged in March due to uncertainty, with no 2026 cuts forecast.
- Higher gas prices could curb spending, threatening growth as the labor market stays cautious awaiting clarity on geopolitical issues.
