Braking Down The Noise

Fed’s Charles Evans Says Rates Will Need to Remain at Higher Levels

Inflation pressures are increasingly broad-based and require tighter monetary policy, says Chicago Fed president

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The Federal Reserve will need to hold interest rates high enough to slow the economy after it lifts them through the end of this year and into early next year, a central bank official said Monday.

But Chicago Fed President Charles Evans said that after raising rates to around slightly more than 4.5% by next March, it would be appropriate for the central bank to pause rate rises to see the effects of those increases.

 

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