fed evans

Chicago Fed Pres. Charlie Evans is speaking on  inflation  and his policy stance:

  • will need to raise interest rates a good deal more overcoming months
  • risks to the downside. Must be ready to adjust policy
  • inflation clearly much too high
  • bad news on inflation was an important consideration and on support for 75 basis point hike in at June
  • own viewpoint roughly in line with expectations for policy rate of 3.25% to 3.5% and end of year and 3.8% at end of 2023
  • less accommodative monetary policy will dampen very high labor demand
  • inflation will call substantially over next couple of years
  • labor market is a downright tight