U.S. economy improving, but Washington may drag: Fed's Evans
Friday, December 06, 2013 - 01:28
Chicago Federal Reserve President Charles Evans tells Reuters that U.S. economic fundamentals, from auto sales to jobless claims, all signal good things for 2014. Without government gridlock in Washington, growth would be even better, Evans says.
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You have said that you expect next. Year to be the escape velocity here for the economic growth is that still your view and we -- you see unemployment going through 2014. Yes or so putting our forecast together we're entering into number four times a year when we do this and you know we have we've had that type of forecast year after year going back to 2010 that this year would be moderate growth next year would be used -- -- over 3%. Growth. I think the 2014. Is shaping up to be -- pretty good year. A lot of fundamentals are in place all of the pent up demand you know. Households are driving around cars there about eleven years old so auto sales have been strong there's every reason to believe that they'll continue to be strong especially given. Attractive of poignancy Draper for autos are monetary policy channels really working well in that regard -- is likely to continue to pick up. If the fiscal drama in Washington goes down and they don't continue to provide a very large -- as they have in past years. That will also set the tone and the table for a much better 2014. I'm probably gonna have a forecast -- moral equivalent of two and a half to 3% I'd rather have three and a half to describe escape velocity. But I do expect we're -- mile closer to that next year and that's that's a very good thing for everybody.
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