Fed’s Evans: See unemployment going below 4% before too long
|Adding to his earlier comments, Chicago Fed President Charles Evans noted that the unemployment rate could go below 4% before too long.
Key quotes:
- The unemployment rate could go to 3.5% and be consistent with inflation still struggling to reach 2%.
- Still, early days to think that recent inflation increases will work their way into inflation expectations.
- Fed would have probably done what it did with asset purchases even without the new framework.
Market reaction:
The US Dollar Index held on to its modest intraday gains just below mid-93.00s, or one-month tops and was supported by the ongoing surge in the US Treasury bond yields/prospects for an early Fed rate hike.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.