(Reuters) – Chicago Federal Reserve President Charles Evans on Thursday said that while he expects the U.S. unemployment rate this year to fall to 4.5%, marking “substantial progress,” inflation is still too low.
“When we say 2%, we should deliver 2%,” Evans said at a Women in Housing and Finance Public Policy luncheon, referring to the Fed’s 2% inflation goal. The Fed has pledged to keep buying bonds at its current pace of $120 billion a month until there is “substantial further progress” toward its full employment and inflation goals.
(Reporting by Ann Saphir; editing by Jonathan Oatis)
