Fed's Evans: Accommodative monetary policy will continue to be appropriate

FILE PHOTO: Chicago Federal Reserve Bank President Charles Evans looks on during the Global Interdependence Center Members Delegation Event in Mexico City, Mexico, February 27, 2020. REUTERS/Edgard Garrido

(Reuters) - Federal Reserve officials would like to see higher inflation, more wage growth and several months of strong employment gains averaging 1 million jobs added before they would consider adjusting monetary policy, Chicago Fed Bank President Charles Evans said on Monday.

“We just want to be sure that monetary policy doesn’t get in the way of a vibrant labor market,” Evans said during a virtual conversation organized by the Society for Advancing Business Editing and Writing. “I think accommodative monetary policy will continue to be appropriate ... We’ve got, you know, some room to overshoot inflation.”

Reporting by Jonnelle Marte