1 Minute Read by Reuters Staff 15 JULY (Reuters) – On Thursday, Chicago Federal Reserve President Charles Evans said he’s still pondering what the recent spike in inflation implies for the timing of interest rate hikes, but that liftoff is still years away. “It doesn’t take much to move it into late 2023 if I have an early 2024 liftoff,” Evans said in a conference call with reporters, referring to his own projection for when a first rate hike would be appropriate. The most likely year for borrowing costs to rise is 2023, according to Fed policymakers. “Your comfort level with above 2% inflation is a tricky one for central bankers… in my perspective, it just takes time; we always repeat it, but I’m very sure we’ll have a better understanding of what the inflation consequences are by the end of the year.” (Ann Saphir contributed reporting, and Paul Simao edited the piece.)/n
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