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Chicago Fed President Austan Goolsbee highlighted the challenges in balancing inflation control with labor market concerns. Goolsbee emphasized the impact of rising Black unemployment on Fed's decision-making. He also mentioned the Middle East instability as a factor affecting oil prices and the need to stabilize prices amidst inflation concerns.

FED'S GOOLSBEE: IF PCE IS REINFLATING, THE FED WILL STABILIZE PRICES.
FED'S GOOLSBEE: THE MIDDLE EAST INSTABILITY IS A WILD CARD FOR THE FED IN TERMS OF OIL PRICES AND GAS, A NEGATIVE SUPPLY SHOCK IS NOT GOOD.
GOOLSBEE: MIDDLE EAST INSTABILITY IS A WILD CARD FOR THE FED IN TERMS OF OIL PRICES AND GAS, A NEGATIVE SUPPLY SHOCK IS "NOT GOOD"