Fed's Evans: Targeting an inflation range is harder to communicate than aiming for a point
|"Periods of above-target inflation are essential to achieving goals over the long run," Chicago Fed President Charles Evans said while speaking at a central banking conference sponsored by the Global Interdependence Center and Banco de México on Thursday.
"When interest rates are near zero, the Fed must commit to extraordinary accommodation," Evans argued. "Targeting an inflation range is harder to communicate than aiming for a point target."
Evans refrained from commenting on the near-term policy outlook.
USD reaction
The US Dollar Index largely ignored these comments and was last down 0.5% on the day at 98.65.
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.