Fed's Goolsbee says oil shock has him worried about inflation

April 2 (Reuters) - Chicago Federal Reserve President Austan Goolsbee on Thursday said it's "unfortunate timing" that the economy is undergoing an oil shock that is pushing up price before the inflation from last year's tariff shocks has subsided, and that has him concerned.

"When the price of gasoline goes up a lot in a short period of time, people's expectations, consumers expectations of where inflation is going to be over the next 12 months start going up pretty significantly, and that will potentially put us in into a tougher spot still," Goolsbee told CNN. Sharply higher oil prices since the start of the Iran war have also increased corporate uncertainty, slowing hiring.