Charles Evans, president of the Federal Reserve Bank of Chicago is speaking in Sydney today on 'The US economic outlook and monetary policy '

  • Says if there was an overshoot, policy would not have to 'do much work' to lower expectations back down
  • Risk is inflation will not return to fed's 2 pct target rate within acceptable time period
  • Benefits to Fed engineering policy to spur overshoot of 2 pct inflation target
  • Says worried about low inflation expectations
  • Says uncertainty over measures of full employment 'enormous'
  • US not yet at full employment

those via Reuters

More (Bloomberg):

  • Sees inflation not rising to 2% goal until roughly 2020
  • Fed should peg hikes to inflation progress

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No urgency on rate hikes from Evans here

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Meanwhile the USD is sitting nearly on session highs pretty much across the board.