Fed’s Evans: Labor markets are tight, inflation is high

President of the Chicago Fed. Evans speaks and says:

  • Labor markets are tight, inflation is high
  • The labor market will slow
  • we are rapidly raising interest rates
  • first task is to bring inflation down to 2%
  • expects US GDP growth to be around 1/2% this year
  • we will manage this year with positive growth, an unemployment rate likely to increase
  • optimist can avoid recession
  • what about the global economic slowdown and Europe suffering the consequences?
  • shouldn’t settle for US outlook given global slowdown
  • also worry that inflation expectations are spiraling out of control
  • I expect inflation to drop


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