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MNI: Fed Should Front-Load Hikes To At Least Neutral- Evans

(MNI) Ottawa
(MNI)

Chicago Fed President sees little risk to growth from rate hikes given current momentum.

The Federal Reserve should use front-loaded interest-rate hikes to at least a neutral range because the risks of unanchored inflation expectations far exceed derailing a strong economic rebound, Chicago President Charles Evans said Tuesday.

The benchmark rate could rise "expeditiously" to at least a neutral range of 2.25%-2.5% and may need to go further if inflation remains stubborn, he said in the text of a speech to the Money Marketeers of New York University. Evans said this month's 50bp hike was consistent with the need to curb inflation, without saying whether going 75bps was an option for the next decision.

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The Federal Reserve should use front-loaded interest-rate hikes to at least a neutral range because the risks of unanchored inflation expectations far exceed derailing a strong economic rebound, Chicago President Charles Evans said Tuesday.

The benchmark rate could rise "expeditiously" to at least a neutral range of 2.25%-2.5% and may need to go further if inflation remains stubborn, he said in the text of a speech to the Money Marketeers of New York University. Evans said this month's 50bp hike was consistent with the need to curb inflation, without saying whether going 75bps was an option for the next decision.

Keep reading...Show less