Fed’s Goolsbee Says He Could See Circumstances for Rate Hike

Federal Reserve Bank of Chicago President Austan Goolsbee said he could envision the US central bank needing to raise interest rates, or returning to rate cuts, depending on how the war in the Middle East plays out.

“We could be back to the environment with multiple rate cuts for the year if inflation behaves,” Goolsbee said Monday in a CNBC interview. “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.”