April 17, 2018 / 6:47 PM / a year ago

Fed's Evans says 2.25 percent inflation would not be a problem

FILE PHOTO: Federal Reserve Bank of Chicago President Charles Evans speaks during a meeting in Madrid, Spain, March 27, 2017. REUTERS/Juan Medina/File Photo

CHICAGO (Reuters) - Chicago Federal Reserve Bank President Charles Evans said on Tuesday that it could take a year before U.S. inflation gets to 2 percent sustainably, and that if overshoots slightly, he would not be too worried.

“Is it going to go to 2.3 (percent)? I don’t see that, that would be an awful a lot of momentum” and would call for a reassessment of his assessment of labor market slack, Evans told reporters after a speech at the Chicago Rotary Club. Still, he said, “I don’t think 2.25 (percent) is something to get our nose out of joint over,” he said, especially if projections for the following year were for inflation to cool a bit.

Reporting by Tom Polansek, writing by Ann Saphir; Editing by Chizu Nomiyama

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