- Chicago Fed president Evans: Fed policy is likely to remain on hold for some time
Market news
5 May 2021
Chicago Fed president Evans: Fed policy is likely to remain on hold for some time
- Economy "quite a way to go" before reaching goals
- Very optimistic on growth prospects
- The employment mandate is "within sight"
- Achieving inflation goal may prove more difficult
- Pandemic has magnified longstanding inequalities, may leave unfortunate longer-lasting marks
- Long way to go before economic activity returns to pre-pandemic vibrancy
- Outlook is more positive than just a few months ago
- Expecting some further pickup of inflation in the coming months
- Risk of upward inflation spiral remote
- Would not be concerned about persistent high inflation unless saw outsized movements in financial market pricing at longer maturities or in survey-based inflation expectations
- Need an accommodative policy for some time to meet policy goals
- Conditions for "substantial further progress" will not be met for a while
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