fed evans

Chicago Fed Pres. Evans is speaking and says:

  • Labor markets are tight, inflation is high
  • The labor market is going to slow down
  • we are increasing interest rate expeditiously
  • job one is to get inflation back down to 2%
  • expects US GDP growth to be about 1/2% this year
  • we'll muddle through this year with positive growth, unemployment rate likely to go up
  • optimistic will be able to avoid recession
  • what about global economic slowdown and Europe taking the brunt
  • should not be complacent about US prospects given global slowdown
  • also worry about inflation expectations getting out of hand
  • I expect inflation will come down