Chicago Fed President Charles Evans said he’s “optimistic that the economy is poised for strong growth later this year.” By the end of next year, Fed’s goal of ful employment would be “within sight”.
However, “some even higher rates of inflation are needed to get inflation to average 2 percent and to solidify inflation expectations about that number,” he said. “So, I see the need for continued accommodative monetary policy to reach our goals.”
The conditions for tapering asset purchases, “will not be met for a while,” he added. “Policy is likely on hold for some time.”