Fed’s Evans: we need to be adjusting monetary policy

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FILE PHOTO: Chicago Federal Reserve Bank President Charles Evans looks on during the Global Interdependence Center Members Delegation Event in Mexico City, Mexico

(Reuters) – Chicago Federal Reserve Bank President Charles Evans on Thursday said monetary policy as it stands is “not well-positioned” for high inflation and that interest rates need to rise this year.

“We need to be adjusting monetary policy to something close to neutral,” Evans said at an event hosted by the Milwaukee Business Journal, adding that Fed policymakers “strongly” believe rates will need to rise two, three, or four times this year.

(Reporting by Ann Saphir; Editing by Chris Reese)

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