Fed's Evans on CNBC
- The high inflation environment came on pretty quickly
- Sees some positive developments in inflation
- Supply chain issues is still an inflation factor
- Seeing some improvement in chips
- Demand is still stronger than limited supply that we see now
- Fed is geared toward getting demand more in line with supply
- We should see improvements inflation of the next 6 months but we still need to see them
- We are at a modestly restrictive stance for monetary policy and moving more in the restrictive direction so that the Fed can sit and see the impact
- I am expecting to see supply improvements to help bring down inflation
- There is a narrow path to a soft landing
- Price stability makes the future better
- Takes 12 to 18 months for restrictive policy to tame inflation
- Fed monitors for systematic risks. We don't see any extraordinary events