NEW YORK – Monetary policy accommodation remains appropriate, according to Federal Reserve Bank of Chicago President Charles Evans.
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“Slow progress in closing resource gaps and a medium-term outlook for inflation that is too low lead me to conclude that substantial policy accommodation continues to be appropriate,” he told the AFP Global Corporate Treasurers Forum in Chicago Thursday, according to prepared text of his remarks, which were released by the Fed. “This accommodative policy will foster a return of economic conditions consistent with our dual mandate.”
