Fed's Goolsbee: Impact of Oil Price Surge Linked to Iran Conflict May Be Limited

Federal Reserve official Austan Goolsbee stated on Monday that the current pricing in the oil futures market reflects an expectation that the surge in oil prices related to the conflict with Iran will be temporary. According to Jin10, Goolsbee mentioned in an interview with Fox News that as long as consumers remain strong, economic growth is likely to continue robustly. He noted that if gasoline prices remain at high levels for an extended period, a reassessment of its impact on consumer spending would be necessary. However, if the market's expectations hold true, the situation is expected to be temporary.