The Chicago Fed President Charles Evanssaid on Wednesday that US inflation is extremely high and that must be addressed by monetary policy for sure, Reuters reported.
“We will continue to see strong labor markets,” Evans continued, “and we will have to adjust monetary policy to deal with high pricesas inflation currently represents a major risk to economic growth.
On the Ukraine crisis, Evans noted that, at the moment, there are no obvious spillover effects on the US economy.
“We need to readjust policy to move towards neutrality,” the official continued, saying “inflation will come down this year and next, although inflation will probably be closer to 2.5% next year instead of 2.0%. It will take until 2024 for inflation to return to 2.0%“.
Source: Fx Street
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