{"id":44165,"date":"2026-05-28T02:14:13","date_gmt":"2026-05-28T02:14:13","guid":{"rendered":"https:\/\/financialrush.com\/?p=44165"},"modified":"2026-05-28T02:14:13","modified_gmt":"2026-05-28T02:14:13","slug":"energy-inflation-has-been-more-persistent-than-expected-feds-goolsbee","status":"publish","type":"post","link":"https:\/\/financialrush.com\/?p=44165","title":{"rendered":"Energy inflation has been more persistent than expected: Fed’s Goolsbee"},"content":{"rendered":"

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Austan Goolsbee, president of the Federal Reserve Bank of Chicago, speaks during the 29th annual Milken Institute Global Conference at the Beverly Hilton in Beverly Hills, California, on May 6, 2026. <\/p>\n

Patrick T. Fallon | AFP | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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Energy inflation tied to the war in Iran has lasted longer than expected, creating a \u201cstagflationary shock\u201d for Asian economies, Chicago Federal Reserve President Austan Goolsbee said Thursday.<\/p>\n

Speaking to CNBC\u2019s Kaori Enjoji at the Bank of Japan-IMES Conference, Goolsbee said that initial estimates in the futures markets had expected energy prices to be \u201ca lot lower\u201d than current levels.<\/p>\n

While oil prices have eased recently on signs of progress in U.S.-Iran peace talks, prices remain well above levels seen before the war. <\/p>\n

Brent<\/a>\u00a0crude\u00a0futures, the international benchmark, gained over 1.81% to $96 per barrel, while the\u00a0West Texas Intermediate futures<\/a>\u00a0gained 1.71% to $90.21 per barrel.<\/p>\n

That compares with $72 price for Brent, and $67.02 for WTI the day before the U.S. and Israel launched strikes on Iran. <\/p>\n

Goolsbee also sounded a warning for Asian economies, saying that, because they are energy importers, \u201cit\u2019s more just a stagflationary shock of the old-fashioned variety.\u201d<\/p>\n<\/div>\n

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This is breaking news, please check back for updates.<\/strong><\/em><\/p>\n<\/div>\n

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