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high inflation to fall as supply bottlenecks addressed By Reuters

by Mike Robinson

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© Reuters. FILEPHOTO: Chicago Federal Reserve Bank President Charles Evans views the Global Interdependence Center Member Delegation Event, Mexico City, Mexico on February 27, 2020. REUTERS/Edgard Garrido

(Reuters) – Chicago Federal Reserve Bank President Charles Evans said Tuesday that he believes supply bottlenecks continue to drive most recent inflation. He also stated that although it may be higher than originally thought and last longer, it will eventually subside.

Evans spoke with CNBC in an interview. He said that inflation is expected to reach 3.5% to 4% this year. Evans reiterated his belief, as did most Fed policymakers that the U.S. central banks is nearing the point where it will start reducing monthly assets purchases. It would not surprise if this taper was completed by the mid-2022, or even the fall.

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