Fed Evans says its critical that the Federal Reserve ‘sees through’ temporary price increases
Chicago Federal Reserve Bank President Charles Evans
says he is optimistic on the economic outlook, but inflation is ‘far too
low’
sees US GDP growing 5% to 6% this year; 2% to
3% in 2022, 2023
sees US unemployment close to 3.5% by the end of
2023
inflation will not be back to goal until the mid-2020s
says his forecast assumes additional fiscal
package of half Biden’s proposed $1.9 trln
says Fed is committed to using all available
tools
he expects inflation to rise temporarily
this spring, but to end the year around 1.5% to 1.75%
‘reasonably confident’ of meeting max employment
goal over the next three years; more worried on inflation goal
critical to ‘look through’ temporary price
increases, not even think about adjusting policy
‘I see us staying the course for a while’
You’ll recall only a couple of weeks ago many Fed officials were floating the QE ‘taper’ idea. Fed Chair Powell kicked some ass though and we will not getting that from any of them for a while.
