Evans is winding down his Fed career with his retirement planned for year end. I don't think he's saying anything here that we don't already know but I'll monitor for more comments and update here.
The market is 90% priced for a 75 bps hike in two weeks with the remainder at 100 bps.
- Need to make sure inflation pressures don't broaden further
- Fed policy must be suitably restrictive
- Fed to reach 2% inflation target over the medium term
- Fed is mindful of implications of its actions on the economy but inflation remains the main job
- Economy still looks relatively good
- If Fed can keep unemployment below 5% that would be 'unusual and good'
