Fed’s Evans: Time to Move Toward Tighter Monetary Policy

Federal Reserve Bank of Chicago President Charles Evans said Thursday monetary policy isn’t positioned to deal with surging inflation and that he supports the central bank’s recent shift toward expecting to raise interest rates.

Mr. Evans didn’t say when he would like the Fed to raise rates from their near zero settings, but he noted that at December’s Federal Open Market Committee meeting his outlook for monetary policy was in line with the three rate increases this year that Fed officials collectively penciled in at that…