Fed’s Evans says inflation will hit 2 percent, and gradual rate hikes will be appropriate

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Charles Evans, president of the U.S. Federal Reserve Bank of Chicago.

Chicago Federal Reserve President Charles Evans one of the Fed’s most dovish policymakers, said Saturday that he is optimistic inflation will reach the Fed’s 2 percent goal and that slow, gradual rate increases will be appropriate.

The Fed next meets to set policy in June, by which time the Fed will have more inflation data in hand. If it remains on track for 2 percent, “continuing our slow gradual increases will be appropriate to get us to the point where monetary policy isn’t really providing more lift to the economy,” Evans said.