Fed’s Evans sees six more 25 basis point interest rate hikes this year
Chicago Federal Reserve President Charles Evans said Thursday he expects the equivalent of six more 25 basis point increases in the central bank’s policy interest rate by the end of the year and three more next year.“This is a bit over the median longer-run... Chicago Federal Reserve President Charles Evans said Thursday he expects the equivalent of six more 25 basis point increases in the central bank’s policy interest rate by the end of the year and three more next year.
If the Fed did not respond, the public will come to expect higher inflation, and the Fed “would have even harder work to do to rein it in,” he said. Earlier Thursday, Minneapolis Fed President Neel Kashkari said he also expected six more quarter-point hikes this year. He said it was a “constellation” of data that led to his shift from a dovish stance only six months ago.
“I’ve certainly shifted my views quite dramatically in the past six months,” Kashkari said at an event at the Fargo-Moorhead Chamber of Commerce, North Dakota. “Everybody should know that 100% of the people on the Federal Open Market Committee are committed to getting us back to our 2% inflation target,” Kashkari added.U.S. stocks DJIA SPX opened higher on Thursday. The yield on the 10-year Treasury note TMUBMUSD10Y rose to 2.362%.
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