Economics
Fed’s Evans Sees Another Jumbo Rate Hike on Table in September
- Says he’s ‘open-minded’ over hiking by 50 or 75 basis points
- Suggests he backs raising rates to 4% next year, going on hold
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Federal Reserve Bank of Chicago President Charles Evans said policy makers could deliver a third straight jumbo increase in interest rates when they gather Sept. 20-21.
“I think that we’ve got a good plan in place. We could very well do 75 in September,” he said Thursday during remarks at an event hosted by the College of DuPage in Glen Ellyn, Illinois. “My mind is not made up. I do know that we need to be increasing interest rates up to a substantially higher level than where they are now,” said Evans, who does not vote on monetary policy this year.