Fed’s Evans says current inflation ‘very different’ to past episodes
Inflation is following a “whale curve” and the Fed should target the body, president says
Federal Reserve Bank of Chicago president Charles Evans pushed back against arguments that high US inflation will prove to be persistent in remarks on April 20, though he acknowledged tighter monetary policy is needed.
Evans said throughout his career forecasters had predicted inflation would result from global fiscal and monetary stimulus, but they had tended to be proven wrong.
He argued analysts were failing to give a convincing account of why inflation would keep rising. “There’s been a
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