Chicago Fedss Evans speaking again (was on CNBC earlier today)
- optimistic that we are going to get back to strong employment numbers
- Unemployment insurance benefits are generous, helpful for people who are looking at jobs with high risk
- Unemployment benefits could have partly aaffected April employment along with schools and childcare
- People are nervous still but it's going to get better with vaccine rollout
- He is looking for strong growth in second half of 2021
- expects to see several months of strong employment growth. It is going to take time
- workers may be thinking about investing in skills that can lead to long-term job opportunities
- issues with vaccination and mask wearing could extend how long the viruses out there
- Fed wants to make sure monetary policy doesn't get in the way of a vibrant labor market
- he worries a lot about cyber risks
- Believes the disappointing jobs number will be a 'one month thing' due to restarting economy
- I think workers are looking for jobs that will be good for 5 years, not 3 months
- We will have to pay attention to wages and whether that will lead to sustainable inflation over years, I don't think it will
- There isn't enough supply for a lot of goods
- Once all the bottlenecks are worked out, I think it will level out
- Beyond temporary factors, inflation expectations will be very important, we'll be watching that
- Inflation rates at 2.5% don't bother me as long as it's consistent with averaging 2% over time
- We're going to have to see more employment numbers and we're going to need to see inflation to start a taper talk. When data is stronger, we'll be talking about it
CLICK HERE for the full interview on CNBC from earlier today.
