Chicago Fed President Charles Evans said he expected economy to growth 6.5% this year. Unemployment rate is expected to fall to 4.5% this year and below 4% next. Inflation would rise temporarily, but then fall back.
He noted there’s a lot of reason to be optimism but there are also concerns, like the scarring effects on large part of workforce due to the pandemic.
On monetary policy, “we’re looking for actual improvement in the economy and inflation to get back up to our dual mandate objectives of maximum inclusive employment and 2% inflation on average,” he added, before removing accommodation.
