Fed's Evans: 'Substantial further progress' won't be met for a while
Comments from the Chicago Fed President out early:
- Still some ways before reaching goals
- Expects policy to remain on hold for some time
- Hopefully employment goal in sight before too long
- Achieving inflation goal may prove more difficult
- Economy has a good deal of momentum but still a long way to go before regaining pre-pandemic levels
- We need to get higher rates of inflation and solidify 2% inflation expectations
We have a full slate of Fedspeak today and the FOMC minutes but I expect a similar tone from all of them.
