Chicago President Charles Evans, in a television appearance on CNBC’s Squawk Box this Monday, said that the US economy is looking stronger in Q1 than it did in Dec. but inflation is a bit lower than I would like it to be.
Key quotes:
“¢ I’m looking for 1.75%-2.00% growth this year.
“¢ The economy is doing fine.
“¢ The unemployment rate is likely to go sideways or down a little bit.
“¢ What is concerning me is that inflation isn’t hitting 2%.
“¢ I had supported more hikes because I expected inflation to be higher.
“¢ I’m quite comfortable with everything we did on rates.
“¢ We can continue to probe wage growth.
“¢ Until cost pressures lead to inflation, I’m happy to wait and see.
“¢ A recession would be unexpected.
“¢ We have less capacity to cut rates if we get into a downturn.
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