Chicago’s Federal Reserve President Charles Evans is generally considered to be a more dovish Federal Reserve member. In his speech today, it does not appear is that there is going to be any substantial rate change policy in the near future.
Evans said now and he has been in the past supportive of the Fed’s stimulus and of its quantitative easing measures. He said that it has started to work and he is also not likely to use any single target to base Fed policy upon.
While no dates were given on any grand Fed exit, his indication sounded as though no one should expect any changes and quantitative easing during this year. In support of that he said that exit is very far in the future so that is something he does not want to talk about. Evans even went on record to say that the bond buying should remain at the same pace throughout the end of this year.
Today’s Fed speech likely holds zero surprises when you consider that Evans has been in support of quantitative easing measures now and throughout its efforts. One last thing that Evans wants to get to his 6.5% unemployment or better.
All things being equal, this was a status quo speech.
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