MNI BRIEF: Evans Fears Widening Inequality Through Pandemic

Chicago Fed President Charles Evans said Wednesday that the long economic recovery from the Covid-19 pandemic runs the risk of further widening inequality between women and racial minorities being laid off from lower-paying jobs and more affluent households.

"These are grave challenges, and poor progress in reducing these inequalities will not be in the social or economic interest of the nation. I fear that the gulf is widening and not easily reversed," Evans said in the text of a speech. He also went over his view laid out at an MNI event earlier this year that the Fed needs an inflation overshoot after the prolonged recovery.