Federal Reserve's Goolsbee: The strong performance of American consumers is key to the U.S. economy

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ME News Report, April 14 (UTC+8), Federal Reserve’s Goolsbee stated on Monday local time that the current pricing in the oil futures market reflects an expectation that the spike in oil prices related to the Iran war will be short-lived. As long as this holds true, the impact on the U.S. economy may be limited. Goolsbee said in an interview with Fox News, “As long as consumers remain strong, I believe economic growth will stay robust. If this situation persists—if gasoline prices remain high or even higher for an extended period—then we will need to reassess what this means for consumer spending; but if the trend follows market expectations, then it will be temporary.” (Source: Jin10)

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