President Of Chicago Fed Sees Good Things For The Economy

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INDIANAPOLIS – The president of Chicago’s Federal Reserve bank likes what he’s seeing from the economy, but predicts rapid growth will start slowing down.

Charles Evans says when unemployment dropped to three-and-a-half-percent, many economists worried it was too low to be sustainable. He told the Economic Club of Indiana those fears proved incorrect, though he predicts job growth will decelerate:

Charles Evans Pres Chicago Fed Reserve

 

The Fed has been trimming interest rates the last several months in response to uncertainty over trade. Evans echoes the Fed’s statement from last week, saying he’s comfortable with the current target rate of 1.5% to 1.75% and doesn’t expect any further changes. He says his main concern about the economy right now is that inflation is too low — the Fed’s target is two-percent.