Chicago Fed President Austan Goolsbee struck a cautious tone in a CNN interview Thursday evening, warning that the recent surge in oil prices presents a meaningful complication for the inflation outlook and broader economic trajectory. Goolsbee described the rise in oil prices as “pretty serious,” emphasising that the ultimate impact will depend heavily on how long elevated energy costs persist. While short-lived spikes may be absorbed without lasting damage, a sustained increase risks feeding through more broadly into the economy, including consumer sentiment, food prices and manufacturing costs. He highlighted the ... (full story)