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MNI POLICY: Fed's Evans: Monetary Policy Is In A Good Place

--U.S. Fundamentals Are 'Quite Good'
By Evan Ryser
     NEW YORK (MNI) - Chicago Fed President Charles Evans on Wednesday said the
Fed will pause to monitor incoming data and look to have inflation rise to meet
the Fed's symmetric target. 
     "Policy is in a good place," Evans said to reporters after a Council on
Foreign Relations event in New York City. 
     Charles Evans, a voter this year, said "the economy is in a good place
right now. The consumer is very strong. The data reflect that."
     Evans emphasized that the Fed needs to do better to achieve its 2%
symmetric inflation objective. "We have not strongly defended our symmetric
     "Are we in a pause? I think we are always going into a meeting thinking
about how the data are," Evans said, noting slowing global growth, trade
uncertainty, and low inflation. "I will be looking at inflation quite a lot." 
     Evans' comments were his first in public since the Fed delivered its third
rate cut of the year last week. The Fed has signaled that the most recent cuts
will be it for now and the Fed will remain data dependent. 
     "At the moment it looks like the slowdown in manufacturing is not affecting
the economy in a broad level," Evans said. "Labor market has been strong."
--MNI Washington Bureau; +1 202 371 2121; email:
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