If the Federal Reserve manages to rein in inflation while sustaining unemployment levels under 5 percent, that would be considered “good,” said Charles Evans, president of the Federal Reserve Bank of Chicago, on Wednesday in remarks at the University of Virginia. Based on policy projections outlined after the September Fed meeting, interest rates targeted at…
Fed’s Evans: Half-Point Hikes Likely, Shouldn’t Go Too Far
Chicago Federal Reserve Bank President Charles Evans on Monday signaled he would not necessarily oppose getting interest rates up to a neutral setting of 2.25 percent to 2.5 percent by the end of the year, a pace that would require a couple of 50 basis-point rate hikes at upcoming Fed meetings. “Fifty is obviously worthy…
Chicago Fed President Sees 7 Rate Hikes This Year, but Says That Could Change
Chicago Federal Reserve President Charles Evans on Friday repeated his view that the U.S. central bank will likely need to make seven quarter-of-a-percentage-point interest rate hikes this year to rein in inflation, but signaled that his view may well change. “Given the great deal of uncertainty we face today, I am well aware that developments…
Fed to Raise Rates, Won’t Be as Restrictive as 1990s: Chicago Fed President
Federal Reserve Bank of Chicago President Charles Evans on Friday said the U.S. central bank is on track to raising rates this year, though it may be “more than I think is essential” to do so at every policy-setting meeting. “By the end of the year when we are closer to neutral we are going…
Fed’s Evans: US Inflation Extremely High, Rates Hikes Needed
Federal Reserve Bank of Chicago President Charles Evans on Wednesday said “extremely” high inflation poses “quite a risk” to economic growth, and the U.S. central bank needs to start raising rates to address it. “We are going to get going,” on raising rates over the next several meetings, going carefully at first, but raising them…
Fed’s Evans: High Inflation to Fall as Supply Bottlenecks Addressed
Chicago Federal Reserve Bank President Charles Evans on Tuesday said he continues to believe supply bottlenecks are driving most of the recent increase in inflation, and though it is higher and may last longer than initially thought, it will subside. Inflation expected to be 3.5 percent or 4 percent this year “cuts into income, wages and…
Fed’s Bostic, Evans Back Rate Rises With Dovish Overtones
As expectations rise that the Federal Reserve will step up its efforts to contain inflation with bigger interest rate hikes, Chicago Fed President Charles Evans and Atlanta Fed President Raphael Bostic on Thursday provided a somewhat dovish counterpoint. “It’s time that we get off of our emergency stance—I think it’s really appropriate that we move…
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