0901 ET - At an "intense moment" of economic uncertainty, Chicago Fed President Austan Goolsbee says that the Fed may still have a path to cutting rates this year, but it should not rule out raising interest rates if the Iran war pushes up inflation and inflation expectations in the months ahead. In an interview on CNBC, Goolsbee says that the war has put a wide range of paths on the table. "We could be back to cuts for the year, if inflation behaves. I could see circumstances where we would need to raise rates if it was going a different way and inflation was getting out of control." Goolsbee notes that higher gasoline prices could have an especially pernicious effect on inflation expectations, which can be self fulfilling. (matt.grossman@wsj.com; @matgrossman)

(END) Dow Jones Newswires

March 23, 2026 09:01 ET (13:01 GMT)

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