Fed's Goolsbee: Inflation now the greater risk, watching expectations closely - CNBC

WASHINGTON, March ‌23 (Reuters) - Inflation ​is ​the greater risk facing the U.S. economy right ‌now with the unemployment rate ⁠remaining fairly stable, Chicago Fed President ‌Austan Goolsbee said on ‌Monday, though a quick resolution of the Iran conflict could ​still leave the Fed poised to cut rates later ⁠this year.

With high gas prices threatening to influence ​consumer expectations, "at the moment I think inflation has got ​to be a little ‌ahead of employment" as a Fed priority, Goolsbee ⁠said on CNBC's Squawk Box. "To have already been at an inflation ⁠rate that was uncomfortably high...and now to ​add something that might be a lasting gasoline price shock, this is ‌an intense moment and we have to hope that ‌this does not prove ⁠to be a ‌lasting impact ​on the economy."

(Reporting by Howard Schneider; Editing by Toby ‌Chopra)

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