“I don’t think we’ve made enough progress yet to slow down,” he said Thursday. the chairman of the Federal Reserve Bank of Chicago, Charles Evans, Reuters reported.
“A Fed rate takeoff is expected in early 2024, although it wouldn’t take much to move it to 2023.”
“By the fall, I could be making some judgments about the set-up; I don’t have a date in mind.”
“It takes patience to see how inflation will play out; you should know more by the end of the year.”
“A little more persistent inflation would not be a bad thing, but it is difficult to see it at 2.5% -3%.”
“It would be challenging to cut MBS and Treasuries in a way other than jointly, but the Fed hasn’t had enough of those discussions.”
The US Dollar Index did not show an immediate reaction to these comments and was last seen gaining 0.33% on the day at 92.67.