Fed's Evans: Continuing inflation unlikely

Fed
# 05 October 2021 19:50 (UTC +04:00)

Federal Reserve Bank of Chicago President Charles Evans said on Tuesday that "supply problems" are mostly behind the rising inflation rate in the United States, APA reports citing Teletrader.

"I'm comfortable thinking... elevated prices... will be coming down as the supply bottlenecks are addressed," he told CNBC, but added that the process could take "longer than we expected" and that a "continuing increase in these prices is unlikely."

The inflation rate in 2021 is projected to hit 3.5%-4%, and that will present a "challenge for households and businesses," according to Evans, who noted that the current inflation issue is with infrastructure and supply, rather than monetary policy.

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THE OPERATION IS BEING PERFORMED