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Fed s Evans: Will take quite some time for Fed to see enough data to shift policyNEWS |
5/10/2021 12:40:40 PM GMT | By Eren Sengezer
Chicago Federal Reserve Bank President Charles Evans acknowledged on Monday that Friday s job numbers were definitely surprising, as reported by Reuters.
Additional takeaways Unemployment benefits giving workers time to look more carefully about jobs, health risks. Supply chain issues, school and child care issues more important to hiring difficulties. Fed will have to watch carefully how wages impact inflation over time. Inflation rates of 2.5% don t bother me if they are leading the US to average 2% over time. Going to take quite some time for Fed to see enough data to shift policy.
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BusinessFed s Evans says he doesn t see labor market overheating
Reuters
1 minute read
Chicago Federal Reserve Bank President Charles Evans on Wednesday said it is natural for wages to move up as businesses struggle to find workers, but he is not worried about the labor market overheating at the moment.
Evans said he would like to see inflation reaching 2.5% and staying there for a few years, and that even 3% inflation, if transitory, would not be cause for concern. He made the remarks after giving a lecture at the Levy Economics Institute of Bard College in which he said the Fed would likely need to keep policy super-easy for some time to achieve its 2% inflation goal.
Wall Street Aims To Open Positive
WASHINGTON (dpa-AFX) - Early cues from the U.S. Futures Index suggest that Wall Street might open higher on Wednesday. The investor sentiments might be impacted by reaction to the latest economic data, especially private sector employment and service sector activity. Earnings reports also might get special attention.
Activision Blizzard (ATVI), Herbalife (HLF), Lyft (LYFT), Prudential (PRU), T-Mobile (TMUS), and Western Union (WU) are among the companies releasing their quarterly results after the close of today s trading.
As of 8.05 am ET, the Dow futures were adding 89.00 points, the S&P 500 futures were gaining 16.50 points and the Nasdaq 100 futures were progressing 88.00 points.
Chicago Federal Reserve Bank President Charles Evans said on Wednesday that he would expect the longer-term 10-year Treasury bond yields to move up as the