Federal Reserve Bank of Chicago President Charles Evans.
Evans is speaking on current economic conditions or monetary policy before the Money Marketeers of New York University, in New York.
Headlines via Reuters (bolding is mine):
- should raise rates to 2.25%-2.5% neutral range 'expeditiously'
- says he favors 'front-loaded' interest rate hikes
- after front-loading rate hikes, hopeful we can transition to more measured pace
- measured pace would give time to monitor supply chains, evaluate impact of tighter policy
- may need to take policy 'somewhat' above neutral to achieve 2% inflation goal
- inflation is clearly much too high
- modestly restrictive stance will still be consistent with growing economy
- US. economic momentum 'strong,' labor market 'downright tight'
- expect substantial deceleration of core inflation as pandemic-related price pressures ease
- monetary policy has critical role in addressing broad-based runup in prices, keeping expectations in check
Fed Chair and Evans' boss Powell was on the speaking circuit on Tuesday US time also: