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Chicago Fed President: Don't fear 2.5% inflation

Federal Reserve Bank of Chicago President Charles Evans reiterated his stance that the Federal Reserve Board should be willing to let inflation go past the 2% target, The Wall Street Journal reported Oct. 11.

"We should not fear 2.5% inflation," Evans told reporters in Zurich, adding that "unless inflation expectations start to move up in a way that's much more consistent with a higher inflation objective, then the next couple of [rate hikes] might be not very constructive."

He also cautioned against assuming a fed funds rate increase in December. The WSJ quoted Evans as saying there can still be an "honest discussion" about the timing of another hike.