Chicago Fed President says inflation must cool down before interest rate cuts

K-LinePoet · 2026-03-30T16:11:06+00:00

Austan Goolsbee, President of the Federal Reserve Bank of Chicago, stated that rising energy prices are fueling inflation, and he believes that progress in easing inflation needs to be seen before cutting interest rates again. Goolsbee mentioned that conflicts and supply chain issues could continue to impact energy prices. He is optimistic about returning to a 2% inflation rate.

K-LinePoet

2026-03-30 16:11:06

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Chicago Federal Reserve Bank President Austan Goolsbee said that as the Federal Reserve wants to see easing price pressures before cutting rates again, rising energy prices are pushing inflation higher. On Tuesday, Goolsbee said on PBS’ NewsHour program: “If energy infrastructure is disrupted, supply chains shift, and turmoil arises in the Persian Gulf situation, then even if the conflict ends, these factors will affect overall energy prices—or, the price of crude oil.” Speaking about the outlook for further rate cuts, Goolsbee said: “We have to see progress on inflation.” Goolsbee: “We should feel some reassurance—we’re on the path back to a 2% inflation rate.” Note: Goolsbee is not participating in this year’s interest-rate decision voting.

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