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MNI BRIEF: Fed's Evans Says Rates May Hold Until 2024

(MNI) OTTAWA
CHICAGO (MNI)

Chicago Fed President Charles Evans said Thursday the central bank may not raise its key interest rate until 2024, saying the biggest challenge will be bringing inflation up.

"Inflation is going to be the real test of whether or not it's time for liftoff," Evans said in a question-and-answer session. Inflation may struggle to move up to 2% next year, he said. Even a rate increase would leave very stimulative conditions, he said.

The jobless rate may fall to 4.5% this year and Evans said, "I'm hopeful that we're headed for a better trajectory but it's very difficult to understate the unevenness" in the job market.

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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