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FILE PHOTO: Chicago Federal Reserve Bank President Charles Evans looks on during the Global Interdependence Center Members Delegation Event in Mexico City, Mexico, February 27, 2020. REUTERS/Edgard Garrido/File Photo
(Reuters) - Chicago Federal Reserve Bank President Charles Evans on Wednesday forecast a rapid economic rebound this year, but said monetary policy will need to remain super-easy to boost “too low” inflation, even as prices are expected to temporarily spike this spring.
“It will be critical for monetary policymakers to look through temporary price increases and not even think about thinking about adjusting policy until the economic criteria we have laid out have been realized,” Evans said in remarks prepared for delivery to the Oakland University School of Business Administration, in Rochester, Michigan. “So I see us staying the course for a while.”