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- Chicago Fed president Evans: US economy is in a strong position
Chicago Fed president Evans: US economy is in a strong position
not worried about the inflation pressure
it’s a good time to pause and be cautious
Fed funds rate arguably close to neutral
US monetary policy neither accommodative nor restrictive at this point
yield curve inversion ‘pretty narrow’
Fed is ‘mindful’ of financial market constraints
I want to see more inflation, do not expect rate increase until H2 next year
will take action if inflation undershoots
we have to be nervous when yield curve gets flat
fundamentals for U.S. growth look good
sees 1.75pct to 2pct u.s. Gdp growth this year
downside risks have risen, driven by uncertain outlook for global growth, trade policy
own outlook is less sanguine than it was last autumn
'could be' upside surprises, but downside scenarios 'loom larger'
Fed's wait-and-see approach is prudent, given heightened uncertainty
some further rate hikes could be appropriate over time, if core inflation accelerates
policy may need to be loosened, if economy softens or inflation runs too low
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