Fed's Evans: Will take quite some time for Fed to see enough data to shift policy

Eren Sengezer FXStreet

Chicago Federal Reserve Bank President Charles Evans acknowledged on Monday that Friday's job numbers were "definitely surprising," as reported by Reuters.

Additional takeaways

"The disappointing jobs number will be a one-month thing associated with restarting the economy."

"Unemployment benefits giving workers time to look more carefully about jobs, health risks."

"Supply chain issues, school and child care issues more important to hiring difficulties."

"Fed will have to watch carefully how wages impact inflation over time."

"Inflation rates of 2.5% don't bother me if they are leading the US to average 2% over time."

"Going to take quite some time for Fed to see enough data to shift policy."

Market reaction

The greenback remains on the back foot after these comments and the US Dollar Index was last seen losing 0.17% on a daily basis at 90.07.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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