Chicago Fed Chief Calls For More Easing
At odds with some members of the Federal Reserve and in lock-step with other, Chicago Fed head Charles Evans called for more action by the central bank to help the economy. He said Given the high unemployment rate and low…
At odds with some members of the Federal Reserve and in lock-step with other, Chicago Fed head Charles Evans called for more action by the central bank to help the economy.
He said
Given the high unemployment rate and low job growth, I think it is clear that the Fed has fallen short in achieving its goal of maximum employment.As for the price stability component of our dual mandate, the majority of FOMC participants—including me—judge that our objective is for overall inflation to average 2% over the medium term. With my own view that inflation is likely to run below this rate over the next few years, I believe we will miss on our inflation objective as well.
Evans also believe that most projections of GDP growth and a drop in unemployment are too optimistic
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