Federal Reserve Evans says the labor market improved faster than expected

From the Wall Street Journal: Federal Reserve Evans says the labor market improved faster than expected

Its an article by Jon Hilsenrath and has headlined across the Bloomberg terminal.

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OK here it is, in brief:

• “It is fair to say that the labor market has improved more quickly than many of us expected”
• … The jobless rate, at 6.1%, “is a much lower rate than I had in my previous forecasts for quite some time. So that is good. The signal from that is that the economy is most likely to pick up”
• Said it likely would be appropriate for the Fed to keep short-term rates near zero “well into” 2015 or even until early 2016“We’re undershooting our inflation objective and we really need to get up to that”

More detail at the article, and it is ungated … have at it!

Chicago Fed’s Evans Says Job Market Improvement Real and Welcome

Charles Evans is the president and chief executive officer of the Federal Reserve Bank of Chicago. He is all lovey dovey.