Fed's Evans: View on appropriate path for Fed policy in line with median view at the Fed

Chicago Fed President and FOMC member Charles Evans on Thursday said that his view on the appropriate path for Fed policy is in line with the median view at the Fed (i.e. six more 25bps hikes in 2022 and a further four in 2023), reported Reuters. 

Additional Remarks:

"Monetary policy must shift to a 'timely' removal of accommodation."

"Higher inflation would become embedded in expectations if monetary policy doesn't respond."

The Fed's recent rate hike was the first of many this year."

"The US economy has solid momentum and the labor market is 'downright tight' by some measures."

"The Ukraine crisis and the pandemic both pose upside risk to inflation, downside risk to growth."

"The Fed must be cautious, humble, nimble and policy must not be on a preset course."