[Federal Reserve's Goolsbee: Iran War Causes Prolonged Energy Inflation, Asia Faces Stagflation Shock] Jin10 Data, May 28 – Chicago Fed President Goolsbee stated on Thursday that energy inflation related to the Iran war has lasted longer than expected, posing a 'stagflation shock' to Asian economies. Speaking at the Bank of Japan-Institute for Monetary and Economic Studies conference, Goolsbee noted that initial forecasts in the futures market had predicted energy prices to be 'far below' current levels. Although recent signs of progress in U.S.-Iran peace talks have led to a slight decline in oil prices, prices remain significantly higher than pre-war levels. Goolsbee also issued a warning to Asian economies, stating that due to their reliance on energy imports, this shock 'resembles a more traditional stagflation shock.'