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Fed's Evans says should not try to finetune inflation overshoot

(Reuters) - Chicago Federal Reserve Bank President Charles Evans said Monday that even if rapid vaccine distribution next year puts the economy on course for a faster recovery, the U.S. central bank will still likely keep rates where they are until at least 2023.

“In the past the Fed has not put enough weight on valuing getting inflation to 2% and above,” Evans told reporters, adding that the Fed ought to get core inflation to 2.5%. “I don’t think we should get involved in trying to finetune the overshoot...I would be surprised if we were to seek to increase interest rates sooner than 2023, given the objectives that we’ve laid out.”

Reporting by Ann Saphir; Editing by Franklin Paul

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