Fed's Evans: Policy expected to remain on hold for some time

Chicago Federal Reserve Bank President Charles Evans said on Wednesday that he expects the Fed's monetary policy to remain on hold for some time, as reported by Reuters.

Additional takeaways

"We are still some ways before reaching goals."

"Substantial further progress bar for reducing asset purchases won't be met for a while."

"Very optimistic about economic growth prospects."

"Hopeful employment goal will be in sight before too long."

"Achieving inflation goal may prove more difficult."

"Economy has a good deal of momentum but we still have a long way to go before regaining pre-pandemic vibrancy."

"We need to get higher rates of inflation, solidify 2% inflation expectations."

Market reaction

The US Dollar Index largely ignored these comments and was last seen posting small daily gains at 92.35.