Fed's Evans: Inflation not going to fall back to 2.0% in 2023
Chicago Fed President Charles Evans on Wednesday said that its not the case that inflation will fall back to 2.0% next year, reported Reuters. However, there is good reason to think that special factors that are causing high inflation will stop going up, he noted. The timing for monetary policy can be sensible in dealing with inflation, he added before reiterating that the Fed will lift interest rates to neutral by the end of the year and will probably thereafter end up with a restrictive stance.
His comments on Wednesday come after he pushed back against the idea of a 75 bps rate hike on Tuesday.
Author
Joel Frank
Independent Analyst
Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset
