Fed’s Evans charts path for rates
Chicago Fed president is optimistic inflation will be near 2% next year
Federal Reserve Bank of Chicago president Charles Evans said he expects the federal funds rate at the end of next year to be 3.75% to 4%, as policy-makers start to look beyond the recent inflation surge.
Earlier this week, the Fed received its first good news on the inflation front for several months. The consumer price index (CPI) rose 8.5% over the year ending in July, down 0.6 percentage points from the previous month, beating the consensus forecast of 8.7%.
Producer prices fell 0.5% month
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