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MNI BRIEF: Fed's Evans: No Obvious US Spillovers from Ukraine


The war in Ukraine has "noobviousspilloverstotheU.S.economy" apart from higher oil and gas prices, Federal Reserve Bank of Chicago President Charles Evans said Wednesday, adding "it'sstillearlydaysandit'shardtoknowhoweverythingwillplayout." His comments echoed testimony to lawmakers from Fed Chair Jerome Powell.

U.S. inflation is very high and likely to stay there for the next year, but "there's a natural reducing factor for inflation that is on the way" as supply chains unwind, he told the Lake Forest-Lake Bluff Rotary Club. Inflation will likely fall to 2.5% next year and 2% by 2024, he said.

MNI Washington Bureau | +1 202-371-2121 |
MNI Washington Bureau | +1 202-371-2121 |

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