More from Chicago Fed Pres. Evans
- very important to get inflation up to Fed's 2% goal
- no reason to shift away from accommodative policy
- Banks in US have more and better capital
- I'm still grappling with yield curve control
- favors policy reinforcing message that the Fed is in it to win it
- allowing jobless rate to stay high will worsen inequality
- only lean against a strong job market if inflation a risk
- timing for Fed taking his foot off the pedal is simple.... Need to get inflation 22% or 2.5%
- sees developments on Fed framework review before too long
- says we need the strongest economy we can get to without unacceptable inflation
- it would be good to see inflation above 2% for some period.
- If Congress does not help estate and local governments, would see large job losses, knock on effects for broader economy (yesterday ex-Fed chair Bernanke warned of such a thing in an op-ed in the NY Times)
