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3/3, 7:46 PM (Source: TeleTrader)
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Fed's Evans: 3% inflation would not be real problem

United States Federal Reserve Bank of Chicago President Charles Evans (pictured) stated on Wednesday the rise in inflation to 2.5% to 3% did not "worry" him, whereas "3% on its way to 4% could be a problem."

Evans added inflation needed to "exceed 2% in order to even think about starting to get nervous." He also remarked he was "optimistic" about the stimulus aimed to combat the crisis caused by the COVID-19 pandemic, saying that, "If the stimulus is enacted as proposed, would not expect to need to change the asset purchase program." Lastly, the president predicted a "strong rebound" for the US economy and an unemployment rate of 5% by the end of the year.

Evans recently noted inflation was "far too low" and that the Fed had "a long way to go" until its goal of 2% was reached.

Breaking the News / JR