Fed's Goolsbee: mild recession is definitely a possibility

A recession in the United States this year is certainly feasible as the Federal Reserve's steep rate-hiking campaign over the past year is felt fully through the economy, Chicago Fed President Austan Goolsbee said on Friday.

"There is no way you can look at current conditions around the world and in the US and not think that some mild recession is definitely on the table as a possibility," Goolsbee said in an interview with CNBC. "The data show that and we've raised rates almost 500 basis points in a year."