Federal Reserve Bank of Chicago President Charles Evans, speaking with media after an event at the London School of Economics:
- Fed policy rate beginning to move into restrictive territory, but not now nearly restrictive enough
- A Fed policy rate of 4.5%-4.75% would be a good place to get to by the end of this year or March 2023
- Policy could sit at that target range 'for a time'
- There's good consensus the policy rate should continue to go up; at some point we will have to slow rate hikes a little bit
- We just really need to get inflation in check
- Financial market volatility can add to additional financial restrictiveness
He spoke earlier:
