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we need to be adjusting monetary policy -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO. Chicago Federal Reserve Bank President Charles Evans watches as the Global Interdependence Center members delegation event took place in Mexico City (Mexico), February 27, 2020. REUTERS/Edgard Garrido

(Reuters) – Chicago Federal Reserve Bank President Charles Evans said Thursday that current monetary policy is not well-suited for high inflation. He suggested that the interest rate should rise in this year’s fiscal year.

Evans stated that “we need to adjust monetary policy towards something near neutral” at an event held by Milwaukee Business Journal. He also said that Fed policymakers believe rates should rise “strongly”, adding that they will have to increase them two, three or four times in the year.

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