Fed Evans: Policy rate should continue higher, could sit higher for some time

Federal Reserve Bank of Chicago President Charles Evans, speaking with media after an event at the London School of Economics:

• Fed policy rate beginning to move into restrictive territory, but not now nearly restrictive enough
• A Fed policy rate of 4.5%-4.75% would be a good place to get to by the end of this year or March 2023
• Policy could sit at that target range 'for a time'
• There's good consensus the policy rate should continue to go up; at some point we will have to slow rate hikes a little bit
• We just really need to get inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term in check
• Financial market volatility Volatility In terms of trading, volatility refers to the amount of change in the rate of an index or asset, such as forex, commodities, stocks, over a given time period. Trading volatility can be a means of describing an instrument’s fluctuation. For example, a highly volatile stock equates to large fluctuations in price, whereas a low volatile stock equates to tepid fluctuations in price. Overall, volatility is an important statistical indicator used by many parties, including financial traders, analysts, In terms of trading, volatility refers to the amount of change in the rate of an index or asset, such as forex, commodities, stocks, over a given time period. Trading volatility can be a means of describing an instrument’s fluctuation. For example, a highly volatile stock equates to large fluctuations in price, whereas a low volatile stock equates to tepid fluctuations in price. Overall, volatility is an important statistical indicator used by many parties, including financial traders, analysts, Read this Term can add to additional financial restrictiveness

He spoke earlier:

• Fed's Evans: I expect to to be at top Fed funds rate by March