Chicago Fed president Evans to retire from the Fed in early 2023

Chicago Fed president Charlie Evans has announced that he will retire from the Federal Reserve in early 2023. Evans was slated to be a voting member in that year.

If his slot is not filled by that time, and alternate Fed president will vote. Alternate members in 2023 include Cleveland, Richmond, San Francisco and Atlanta.

Yesterday, Evans said:

• I don't see the need for hikes larger than 50 bps
• Comfortable with path that includes two 50 bps hikes and gets rates to 2.25-2.50% by year end
• Won't be able to make a judgement on whether inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term pressures are easing until the end of this year

His comments are in line with most of the Fed officials. Getting rates to neutral by the end of the year seems to be the path for Fed members.

Feds Bullard raised the potential for 75 basis points. Feds Daly commented today that the Fed members would deliberate on a potential 75 basis point hike, but she also said they would deliberate on a 25 basis point hike. I would expect Evans to fall in line with the consensus between now and the year end.