June 5, 2019 / 1:17 PM / 11 days ago

Chicago Fed's Evans: 'contained' 2.5% inflation would not violate objective: Bloomberg

FILE PHOTO: Federal Reserve Bank of Chicago President Charles Evans participates in a moderated discussion in Zurich, Switzerland October 11, 2017. REUTERS/Arnd Wiegmann/File Photo

(Reuters) - Chicago Federal Reserve President Charles Evans on Wednesday said he remains concerned about the persistent undershooting of the central bank’s inflation target and wonders if current policy is appropriate to lift it back to 2% or above.

“Inflation is just a little light relative to our symmetric 2% inflation,” Evans in an interview on Bloomberg Television on the sidelines of a conference his bank is hosting to review the U.S. Federal Reserve’s operating framework.

“We might wonder if we’ve got the appropriately accommodative setting in order to generate inflation at two to two-and-a-quarter percent,” he said, adding that “two-and-a-half percent inflation would not be against our symmetric inflation objective as long as it was relatively contained.”

Reporting By Dan Burns; Editing by Chizu Nomiyama

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