Chicago Federal Reserve Bank President Charles Evans said on Monday that while the U.S. labor market is "kind of tight," wage growth is slow and inflation is still too low, suggesting he believes the central bank should go slow on raising interest rates.
Still, he said in an address to the Executives Club of Chicago, he is optimistic that conditions are ripe for inflation to rise back to the Fed's 2 percent target, especially given the policies that the new Trump administration has "earmarked" for the next few years.
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