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Fed's Evans says he doesn't see labor market overheating

1 minute read

May 5 (Reuters) - Chicago Federal Reserve Bank President Charles Evans on Wednesday said it is natural for wages to move up as businesses struggle to find workers, but he is not worried about the labor market overheating at the moment.

Evans said he would like to see inflation reaching 2.5% and staying there for a few years, and that even 3% inflation, if transitory, would not be cause for concern. He made the remarks after giving a lecture at the Levy Economics Institute of Bard College in which he said the Fed would likely need to keep policy super-easy for some time to achieve its 2% inflation goal.

Reporting by Ann Saphir; Editing by Chizu Nomiyama

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