9/23/2020, 5:40 PM (Source: TeleTrader)
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Fed's Evans: 2.5% inflation likely in cards

Chicago Federal Reserve President Charles Evans (pictured) said on Wednesday that the central bank is willing to exceed its inflation target, asserting a 2.5% inflation is "likely in the cards" for some time.

"Will keep rates where they are until full employment, inflation gets to 2% and overshoots," the official stated, adding that it is "unbelievably important" to surpass the target for some time.

Further, Evans claimed that the monetary policy setting is currently "adequate" but that the Fed is ready to "pivot to greater accommodation when needed."

Baha Breaking News (BBN) / MD