Chicago Fed Pres. Charles Evans speaks in Indianapolis
Comments from Chicago Fed Pres. Charles Evans:
- Labor market is now vibrant.
- Gone to a point where we are pausing on policy
- Economy is doing remarkably well
- We are at a good setting for monetary policy
- Fed should be averaging 2% inflation
- It is a good time to watch the data
- Expects employment growth to eventually tail off toward 100,000 jobs a month
With the Fed dot plot forecasting no change in policy and 2020, the comments from Evans are congruent with that view. Evans is not a voting member on the FOMC in 2020.
He adds:
- He is personally worried inflation is too low
- We need to be willing to go well past 2% inflation
- Importantly get inflation up to Fed's 2% goal
These comments are congruent to the Fed Chair's comments last week when he said that it would take a "significant and persistent" rise in inflation for the Fed to move rates higher.