Goolsbee: All Fed interest rate options are under consideration

Chicago Fed President Goolsbee said that all interest rate options are currently under consideration, not just interest rate cuts. At the end of April, the Federal Reserve kept interest rates unchanged. Three officials opposed the wording in the statement that suggested that interest rates might be cut next, arguing that the possibility of raising interest rates should be preserved. Goolsbee's comments reflect a shift among Fed policymakers, largely driven by energy price shocks triggered by the war in Iran that drive up inflation. He reiterated that both interest rate cuts and interest rates were under consideration, and was anxious about inflation, believing that there was also price pressure in addition to energy shocks.