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MNI BRIEF: Fed's Evans Says Payrolls Were Disappointing

(MNI)

Chicago Fed President Charles Evans said Friday the November payrolls report wasn't that strong and he remains concerned that inflation pressures will remain muted for a long time.

"It was a little disappointing," he said of the jobs report. "There's a long ways to go still, and at this pace, we need much stronger return to work to keep things going." There is still an optimistic case for next year based in part of vaccine developments, he said.

Asked about the interest rate outlook, he said long bond yields may climb before the policy rate, saying on that front "we've got a long ways ahead of us." The Fed may struggle as it has in the past to bring inflation to or past 2% and that also suggests low for long rates, he said.

MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com

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