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
Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.