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Fed Reserve Bank CEO analyzes economic fallout of US blockade of Strait of Hormuz

Austan Goolsbee, Chicago Federal Reserve Bank CEO, analyzes the economic impact of the US blockade of the Hormuz Strait. Crude oil prices are hovering around $99 a barrel as markets react to the disruption of global oil flows. Goolsbee stresses the critical role of consumer spending and sentiment for economic growth, cautioning about prolonged price hikes.

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