Federal Reserve Bank of Chicago President Charles Evans spoke earlier:
- Fed's Evans calls to raise interest rates to 2.25% - 2.5% quickly
- More from Fed's Evans - short-term neutral rate may be higher than long-run rate
More again:
- I expect by July or Sept meeting we will be talking about transitioning to 25 bps hikes
- by December we'll have many more data points on inflation
- by December I expect we will have completed any 50 bps hikes and have put in place at least a few 25 bps hikes
- I do expect we'll have to go beyond neutral
- once rates are above neutral, I would look for a point where I'm comfortable sitting and assessing the impact of restrictive rates
Perhaps Evans gets paid by the word. I'm hoping this is the last we hear from him today.
