Comments by Chicago Fed president, Charles Evans
- Risks from downside loom larger than upside ones
- Fed may have to ease if activity softens more than expected
- Expects core inflation to stay consistent with 2% goal
- Believes US GDP growth this year will be 1.75% to 2%
- Recent US data has been softer than anticipated
- Further rate hikes may be needed if inflation momentum builds
Evans decides to lower his growth forecast for the US economy this year; he previously saw the economy growing by more than 2% in January. The rest of his remarks have a slight dovish tilt to it but it is consistent with what the Fed has been preaching over the past two months.
