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Reuters
Fed’s Evans says policy “wrong-footed,” but may not need to be restrictive
Current high inflation requires a “substantial repositioning” of Federal Reserve policy, but not so much that it will restrict the economy and wreck employment, Chicago Fed president Charles Evans said Friday. Evans, in prepared remarks, laid out the case that price pressures still stand to ease on their own without aggressive Fed interest rate increases. He did not give details on what he thinks the Fed should do at its March or subsequent meetings through the year, or wade into the debate over whether officials should start with a larger than usual half percentage point increase to jump start the process.
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