Fed’s Evans: ‘Substantial further progress’ won’t be met for a while

Comments from the Chicago Fed President out early:

Comments from the Chicago Fed President out early:
  • Still some ways before reaching goals
  • Expects policy to remain on hold for some time
  • Hopefully employment goal in sight before too long
  • Achieving inflation goal may prove more difficult
  • Economy has a good deal of momentum but still a long way to go before regaining pre-pandemic levels
  • We need to get higher rates of inflation and solidify 2% inflation expectations

We have a full slate of Fedspeak today and the FOMC minutes but I expect a similar tone from all of them.

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