Fed president Evans
Chicago Fed president Evans is on the wires saying:
- three rate increases a good opening bid for 2022, but could be for if inflation does not improve fast enough
- reluctant to declare maximum employment, but inflation is much too high and controlling it is best assurance of recovery
- balance sheet is very large. Fed will likely start shrinking it sooner than later following rate increase
- expects inflation less than 2.5% at end of 2022 with most adjustment through real factors not monetary policy
- officials likely to think seriously about raising rates at March meeting
- Fed still grappling with how fast policy should reach a neutral rate of interest
Fed's Evans is a voting member in 2023
