×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Skip to main content
Tags: federal reserve rate hike | charles evans

Fed's Evans Sees 7 Rate Hikes This Year, but Says That Could Change

Evans
 Federal Reserve Bank of Chicago President Charles Evans (Getty Images)

Friday, 01 April 2022 09:06 AM EDT

Chicago Federal Reserve President Charles Evans on Friday repeated his view that the U.S. central bank will likely need to make seven quarter-of-a-percentage-point interest rate hikes this year to rein in inflation, but signaled that his view may well change.

"Given the great deal of uncertainty we face today, I am well aware that developments may transpire in a way that would cause me to alter my assessment," Evans said in remarks prepared for delivery to the Prairie State College Foundation.

Most of the text was an exact repeat of a speech Evans gave on March 24 in Detroit, when he called for "timely" rate hikes and said policymakers "need to be cautious, humble and nimble as we navigate the course ahead."

A week earlier the Fed raised rates for the first time in three years and signaled more hikes were coming, likely on the same rate-hike path that Evans said Friday was his "baseline assessment." That path would bring the Fed's policy rate to a range of 1.75%-2% by year-end, and to 2.5%-2.75% by the end of next year.

But since the Fed's March meeting, with data pointing to an already tight labor market tightening even further and inflation surging to a 40-year high, policymakers have sounded increasingly ready to be more aggressive.

On Friday, Evans made a point of underscoring his personal uncertainty about the proper path of policy.

"As we move through the year, we will certainly learn more and will be prepared to adjust policy as needed," he said.

© 2022 Thomson/Reuters. All rights reserved.


StreetTalk
Chicago Federal Reserve President Charles Evans on Friday repeated his view that the U.S. central bank will likely need to make seven quarter-of-a-percentage-point interest rate hikes this year to rein in inflation, but signaled that his view may well change.
federal reserve rate hike, charles evans
253
2022-06-01
Friday, 01 April 2022 09:06 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved
Download the NewsmaxTV App
NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved