Chicago Fed President and FOMC member Charles Evans on Tuesday pushed back against the idea of larger than 50 bps rate hikes at upcoming Fed meetings, saying that he doesn't see the need for them, reported Reuters. Moreover, Evans said he is comfortable with a rate hike path this year that would see two 50 bps rate rises and get rates to 2.25-2.50% by the end of the year. 

The Fed won't be able to make a judgment on whether or not inflationary pressures are easing until the end of the year, he continued. Earlier in the day, Evans had said that there is good reason to think the US economy will do very well even as rates rise.