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 may transpire in a way that would cause me to alter my assessment,” Evans said in remarks prepared for delivery to the Prairie State College Foundation. Most of the text was an exact repeat of a speech Evans gave on March 24 in Detroit, when he called for “timely” rate hikes and said policymakers “need to be cautious, humble, and nimble as we navigate the course ahead.” A week earlier the Fed raised rates for the first time in three years and signaled more hikes were coming, likely on the same rate-hike path that Evans …
Chicago Fed President Sees 7 Rate Hikes This Year, but Says That Could Change
April 2, 2022
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