Fed’s Evans Not Worried About Inflation Above 2%

President of the Federal Reserve Bank of Chicago, Charles Evans, said on Wednesday that he does not fear stronger accommodation in the pursuit of clearly overshooting the 2% inflation target, even reaching above 2.5%.

The Fed needs to maintain interest rates close to zero to sustainably maintain inflation at 2% or above, Evans said, noting that no rate hikes are expected until at least 2023.