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Fed's Evans: inflation high but still no rate hike until 2023

Nov 8 (Reuters) - Chicago Federal Reserve Bank President Charles Evans on Monday said that while he is a bit more nervous about inflation staying high than he had previously been, he still believes the Fed will not need to raise interest rates until 2023.

“I think inflation will stay more elevated in 2022,” he told reporters after a speech. But “I still tend to think we have time to be patient” because most of the price increases are being driven by supply shocks that will abate.

If inflation expectations increased a lot, it would “certainly” make sense to think about a 2022 rate hike, he said, but for his own view, “I don’t think it’s until 2023.”

Reporting by Ann Saphir; Editing by Chris Reese

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