Fed’s Evans says front-loaded hikes are ‘pretty much in process’
Outgoing Chicago Fed president worries about uneven wage gains
Charles Evans, president of the Federal Reserve Bank of Chicago, said on May 17 that “the front loading [of interest rate hikes] is pretty much in process”.
Evans argued that the federal funds rate should be brought to a neutral level “expeditiously” due to “much too high” inflation. He said risks to employment are modest even if the Fed takes the expeditious approach.
US consumer price inflation was 8.3% in April, a small drop from 8.5% in March. The Fed’s target measure – personal
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