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To tackle very high, persistent inflation, Chicago Fed President Charles Evans said the Fed would need to bring the cost of short-term borrowing to the level required by the first quarter of next year.
“It will be expressed as 4.50 percent,” Evans said in a London School of Economics speech.
With the fair indication that the Fed’s talk of rate hikes before coming sooner is honest, Evans said, “Interest rate hikes are low at the beginning; we are increasing the rate with these increases,” said Evans.
Evans also predicted the general situation of the interest rate cut period of its banks worldwide.
