Chicago Fed President: The oil price shock is unfortunate and will significantly raise inflation expectations

SmartContractAuditor · 2026-04-03T00:36:11+00:00

Chicago Fed President Goolsbee pointed out that rising oil prices are impacting the economy and exacerbating inflation pressures that have not yet subsided. He is concerned that short-term sharp fluctuations in oil prices could raise expectations of future inflation, thereby affecting business hiring and economic stability.

SmartContractAuditor

2026-04-03 00:36:11

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Odaily Planet Daily, quoted as saying: On Thursday local time, FOMC voter and Chicago Fed President Goolsbee said the economy is being hit by the impact of oil prices. With inflation from last year’s tariff shock not yet having faded, the oil-price shock has pushed prices higher again, and this “inopportune timing” worries him. Goolsbee said, “When gasoline prices rise sharply in the short term, people’s expectations for the inflation trend over the next 12 months begin to rise significantly, which could put us in even more difficult circumstances.” Since the outbreak of the Iran war, oil prices have surged dramatically, which has also increased uncertainty for businesses and slowed the pace of hiring. (Jin Shi)

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