Correspondent, Chicago
Ann's Feed
Jan 9, 2015
Jan 9, 2015

Low wages, inflation should keep Fed on hold, doves say

Jan 9 (Reuters) – With wage growth slow, price rises muted
and the outlook for longer-term inflation slipping, two top U.S.
Federal Reserve officials want the central bank to defer
interest-rate increases until next year.

“If we are going to get inflation up to our 2 percent
objective … we are going to have to see wages increase more,”
Chicago Federal Reserve Bank President Charles Evans told CNBC
in an interview on Friday after a government report showed pay
increases slowed in December, despite strong gains in jobs.
“That’s why I’m in favor of being patient on raising interest
rates.”

Jan 9, 2015

Sagging U.S. inflation should keep Fed on hold: Evans

By Ann Saphir

(Reuters) – The U.S. jobs market is making “good, good progress,” but with wages down, inflation low and the outlook for inflation slipping, the U.S. central bank should defer raising rates until next year, a top Federal Reserve official said on Friday.

“If we are going to get inflation up to our 2-percent objective… we are going to have to see wages increase more,” Chicago Federal Reserve Bank President Charles Evans told CNBC in an interview, after a government report showed hourly wages declined in December despite strong gains in jobs. “That’s why I’m in favor of being patient on raising interest rates.”

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