Investing.com – Chicago Fed president Charles Evans showed an upbeat outlook on the U.S. economy on Monday, though he backed the Federal Reserve’s current stance of waiting to observe the data before making further moves to remove accommodative policy.
Evans indicated at the International Financial Services Forum in London that despite the weak first quarter growth in the U.S., he saw positive economic fundamentals and expected economic growth to recover to 2.5% for the rest of the year.
However, he did note that he would like to have more confidence in the outlook for inflation and that was concerned that inflation expectations had fallen in the longer horizons.
Evans also noted that the U.S. central bank was disappointed with the currently low levels of business investment.
In any case, he considered the Fed’s current “wait and see” stance to be appropriate.
In another appearance on Monday, Minneapolis Fed president Neel Kashkari will give a speech to the Economic Club of Minnesota at 17:00GMT, or 13:00ET.