- Chicago Fed president Evans: Every week and month without renewing fiscal support risks a longer period of slow growth if not outright recessionary dynamics
Market news
22 September 2020
Chicago Fed president Evans: Every week and month without renewing fiscal support risks a longer period of slow growth if not outright recessionary dynamics
- US has been able to return to about 90% of precrisis economy
- Even as Covid 19 death toll rises, he has marked up his growth forecast
- Expects unemployment rates to fall to 7% to 7.5% by the end of the year
- Says inflaiton will continue to be a challenge; will underrun 2% for a number of years
- A bigger overshoot on 2% inflation means you would get an average of 2% inflation more quickly
- Would need to have more Fed committee discussion about asset purchases
- QE is even more complicated now then back in 2012 in rates were higher
- Fed has more to discuss in terms of further QE
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