Chicago Fed President Charles Evans said, “I readily admit – I have to be humble about this – I did not expect the inflation rates that we’re seeing and they have lasted longer than I expected. And because they have lasted longer, I know that we need to take action more quickly than I would have guessed last year.”
“We need to be adjusting monetary policy to something close to neutral,” he said. “The committee very strongly is expecting two, three, four rate increases this year. We’ll see how it plays out.”
