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MNI BRIEF: Evans Says 100BP Fed Rate Hike Isn’t Needed

(MNI)

Chicago Federal Reserve President Charles Evans said Wednesday that another 75bp rate hike is more reasonable than looking at 100bps to brake inflation.

“I don’t think that 100 basis points is necessary,” he said on a call with reporters after a speech. “Seventy-five is a very reasonable place to have a discussion.” The Fed may also be slowing down to quarter-point hikes by year-end he said, reiterating his views are in line with the overall path laid out in the FOMC’s latest dot plots.

Tighter policy can still pull demand back in line with supply without a full-blown recession, by instead bringing growth back to “trend growth or a little below that,” he said.

MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
USPolicy NewsFederal ReserveStoryCentral Bank NewsBriefHomepageRegionNorth America
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
USPolicy NewsFederal ReserveStoryCentral Bank NewsBriefHomepageRegionNorth America

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