Fed's Evans: Economy should prepare for a period of very low interest rates

Evans highlights the lower forever mindset

• Expects virus to be brought under control as year progresses
• Will likely take years to get US inflation up to 2% on average
• Policy to be accommodative 'for a long time'
• Interest rates will stay low for a long period, Fed will likely continue asset purchases for awhile as well
• Fed should not rush to raise rates unless inflation threatens to be uncomfortably high