Chicago Fed President Charles Evans delivered a repeat of his speech in Wisconsin from Oct 8:

  • Repeats call for exceptional patience in raising rates
  • Still significant underutilization of labor resources
  • Fed getting close to twin goals over next 2-3 years
  • Concerned inflation won’t rise to 2% in reasonable time
  • Stronger dollar could hit exports, hold down expectations

Evans is as dovish as they come.

He will take audience questions and speak to the press later but it’s tough to imaging him saying anything that would move markets.