By Ann Saphir
(Reuters) – Federal Reserve Bank of Chicago President Charles Evans on Wednesday said inflation was “extremely” high, pushed up by strong demand and supply chain issues, and posed “quite a risk” to economic growth.
“That’s something that needs to be addressed by monetary policy for sure,” and rates need to be readjusted to move them toward neutral, Evans told the Lake Forest-Lake Bluff Rotary Club Foundation.
Inflation will come down this year and next, he added, but still will likely be closer to 2.5% than the Fed’s 2% target next year and will take until 2024 to get down to 2%.
(Reporting by Ann Saphir; editing by John Stonestreet)
