Chicago Federal Reserve Bank President Charles Evans on Wednesday said the U.S. ...
Federal Reserve Bank of Chicago President Charles Evans speaks during a meeting in Madrid, Spain, March 27, 2017. REUTERS/Juan Medina
INDIANAPOLIS - Chicago Federal Reserve Bank President Charles Evans on Wednesday said the U.S. economy is doing “remarkably well,” with a vibrant labor market and a strong consumer, but inflation remains worrisomely low. Monetary policy is in “a good place,” Evans told the Economic Club of Indiana, using a phrase that Fed Chair Jerome Powell and others have also used to signal they see little need to adjust the level of interest rates in the forseeable future. But, he added, he is “personally worried” that inflation continues to run below the Fed’s 2% target, and the Fed should allow it to rise above that level so it can average 2% over time.
Evans voted for all three Fed rate cuts this year, and also supported the decision earlier this month to leave interest rates where they are, in a target range between 1.5% and 1.75%.
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