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Central Banks

Fed Must Press On Despite Global Market Volatility, Evans Says

Charles Evans

Charles Evans

Photographer: Al Drago/Bloomberg

The Federal Reserve must keep pushing interest rates higher to contain inflation despite rising volatility in global financial markets, Chicago Fed President Charles Evans said.

“We’re at a target range of 3 to 3.25%,” Evans told reporters Wednesday after a talk at the London School of Economics, referring to the US central bank’s benchmark lending rate.