Federal Reserve Evans: Not a 'catastrophe' if U.S. inflation rises over 2% via ForexLive

Ryan had the headlines from Chicago Fed President Charles Evans on Friday: Fed's Evans says it's not a catastrophe to overshoot 2% inflation target, there's a bit more detail in this update from Reuters; in summary:

• The Fed could well let inflation rise to around 2.4% (which is above its 2-% target), if the economy requires it
• “Even a 2.4 percent inflation rate, if it's reasonably well controlled and the rest of the economy is doing OK and policy is being adjusted to keep that under the 2.4 percent range, I think that could work out”
• Evans added he expects 1.5 to 1.75% inflation over the next couple of years
• Said the U.S. labor market is doing “a lot better” recently

More at Reuters

posted via ForexLive