Fed's Evans: Current Fed policy “wrong-footed” by high inflation, but may not need to be restrictive

Federal Reserve Bank of Chicago President and FOMC member Charles Evans on Friday said the current Fed policy had been "wrong-footed" in the face of high inflation, but may not need to become restrictive. A "substantial repositioning" of policy could be done with a low risk to jobs, he continued, adding that the he still feels much of the current wave of inflation is due to supply and other pandemic-related shocks will ease.