More from Fed's Evans: The US consumer is supporting the economy in an enormous way
Chicago Fed Pres. Charlie Evans speaks in New York
More from Chicago Fed Pres. Charlie Evans from New York:
- US consumer right now supporting the economy in an enormous way
- Brexit it is still a huge uncertainty and also uncertainty on US-China relations
- Adjustments have not been anywhere near large enough to change the dynamics if there was a big negative shock
The comments remain cautionary from Fed's Evans He did quantify his thoughts on asymmetrical inflation target by saying that he would tolerate a rising inflation to 2.5%. With core CPI inflation at 1.7% currently, there is a lot of room to roam higher if the Fed members are in agreement. Policy may be at accommodative but the verdict is out on whether it is accommodative enough to kick up inflation.