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Wall Street Set To Bounce Back
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Fed s Evans says bond yield rise reflects expectations for rebound
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Fed s Evans, optimistic on recovery, sees no need to adjust QE
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U.S. President Joe Biden, centre, and Vice President Kamala Harris meet with Senate Majority Leader Charles Schumer (D-NY) and other Democratic senators to discuss his US$1.9 trillion American Rescue Plan in the Oval Office at the White House on Feb. 3, 2021 in Washington, DC. Photo by Pool /Getty Images
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Chicago Federal Reserve Bank President Charles Evans on Wednesday said the Biden administration’s proposed $1.9 trillion fiscal package would speed recovery and lift inflation, without being too much for the economy.
“I’m hard-pressed to see the size of this leading to overheating,” Evans told reporters after a talk at Oakland University. “Do we maybe get to our inflation objective sooner? I think we do.” (Reporting by Ann Saphir in Berkeley, Calif. Editing by Chris Reese)