Chicago Fed President Says Rate Hikes Will Continue Even if They Lead to Job Losses

Chicago Fed President Says Rate Hikes Will Continue Even If It Leads To Job Losses

Reiterating a message sent by numerous central bankers in the past couple of weeks, Chicago Fed President Charles Evans took a hawkish tone during an interview with CNBC and argued in favor of aggressive rate hikes by the central bank.

Only three weeks before the Fed’s next meeting where they are expected to raise interest rates again by 0.75 percentage points, Evans suggested that job losses were an acceptable circumstance.

“If unemployment goes up, that’s unfortunate. If it goes up a lot, that’s really very difficult,” Evans said. “But price stability makes the future better.”