Chicago Fed President Austan Goolsbee Chia on CNBC that he is currently more worried about inflation than unemployment. The reason is that no one can be certain how long the Middle East conflict will last or how significant its true impact will be, making monetary policy management very difficult. The key point here is that the Fed doesn't want to repeat the mistake of 2021, when they underestimated inflation and considered it only "temporary." Regarding policy, Goolsbee said the future direction will depend on whether inflation actually returns to the 2% target. He remains quite optimistic that interest rates could fall by the end of 2026, but only if there is clear evidence that inflation is sustainably cooling down.