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9/22, 4:29 PM (Source: TeleTrader)
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US inflation to be below 2% for number of years - Fed's Evans

President of the Federal Reserve Bank of Chicago Charles Evans noted on Tuesday that he expects the inflation in the United States to remain below 2% "for a number of years."

Speaking in a virtual webinar, he emphasized that the central bank's accommodative policy should remain in place for as long as the inflation stays low.

The unemployment rate will fall to between 7% and 7.5% by the end of 2020, and to 5.5% by the end of next year, Evans also estimated, while stating the US economy "surprisingly" recovered about 90% of its pre-pandemic activity.

Breaking the News / MS