The President of the Federal Reserve Bank of Chicago, Charles Evans, reiterated on Wednesday that he expects the Fed’s monetary policy to remain unchanged for some time, Reuters reported. He indicated that there is still a “great way to go ”to reach the objectives. According to his perspective, the employment goal is in sight, while the inflation goal “may be more difficult.”
The official was very optimistic about the prospects for economy growingAlthough he warned that there is a long way to go before economic activity returns to pre-pandemic vitality. “The base case is that the virus will be much less of a public health concern in the second half, but there are downside risks,” Evans said.
With respect to inflation, the president of the Chicago Fed said they expect a new rebound in the coming months and the risk of a remote upward spiral of inflation.
Given the context presented, Evans argued that an accommodative policy is needed for some time to meet the policy objectives.
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