Fed's Evans: Fed has tools to fight both high and low inflation

Chicago Federal Reserve Bank President Charles Evans said on Wednesday that the Fed is not going to even think about tapering asset purchases until they see a further substantial improvement, as reported by Reuters.

Additional takeaways

"Fiscal support will help us, the Fed policy is accommodative and that's appropriate."

"The Fed has the tools to fight both high and low inflation but it's harder to fight low inflation."

"The Fed does not look much at monetary aggregates, maybe not at all."

Market reaction

The US Dollar Index showed no immediate reaction to these remarks and was last seen gaining 0.12% on the day at 90.90.