CNBC
28 May 2026, 02:04 UTC · 2h ago
Source · https://www.cnbc.com/2026/05/28/goolsbee-iran-energy-inflation-asia-stagflation-shock-ai-artificial-intelligence-jobs.html
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Chicago Fed President Austan Goolsbee believes energy inflation from the Iran conflict has created a 'stagflationary shock' for Asian economies. — Stagflation (stagnant growth plus high inflation) is a worst-case macroeconomic scenario that severely suppresses risk appetite and corporate earnings in affected regions.
-0.70Goolsbee defended his dissent against the Fed's final rate cut in 2025, stating that inflation has not proven to be as temporary as previously advertised. — A Fed official signaling that inflation is persistent suggests a higher-for-longer interest rate environment, which puts downward pressure on equity valuations.
-0.50Goolsbee indicated that interest rates will eventually settle well below current levels if inflation returns to the 2% target. — This provides a long-term bullish catalyst for markets, provided the prerequisite of returning to 2% inflation is met.
+0.40Brent crude and WTI futures have risen significantly, trading at $96 and $90.21 respectively, well above pre-strike levels. — Higher energy costs act as a tax on consumers and increase input costs for businesses, weighing on global economic growth.
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