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Inflation above 2% is ‘nothing to worry about,’ Chicago Fed president says

“His backing of more rate hikes shows the central bank is more united, at least for the next few rate hikes” writes Senior Economics Reporter for marketwatch.com. Evans, who is not a voting member of the Fed interest-rate committee, had been one of the more dovish regional central bank presidents.Inflation is likely to rise above 2% given the strong economy, but price pressures are “not a problem” that would require the U.S. central bank to accelerate the gradual pace of interest-rate hikes, said Charles Evans, the president of the Chicago Fed, on Thursday. “It wouldn’t surprise us if [inflation] gets above 2% a little bit.In June, the Fed hiked interest rates to a range between 1.75% and 2%.
 
Source: marketwatch.com



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