Fed's Evans says U.S. economy doing 'quite well' but constrained
- Wall Street rises, buoyed by economic data; Dow sets high
- Twitter (TWTR) 'Takeover Money' Moves On as 'Trump Money' Moves In
- Amazon (AMZN) Could Open Over 2,000 Brick-and Mortar Groceries if Tests Succeed - DJ; Kroger (KR) on Watch
- Buy Any Seasonal Market Weakness Ahead of Year End Rally - Oppenheimer (SPY)
- After-Hours Stock Movers 12/05: (TXMD) (COUP) (BOBE) Higher; (SB) (LXRX) (STWD) Lower (more...)
Chicago Federal Reserve Bank President Charles Evans takes a question during a round table with the media in Shanghai, China March 23, 2010. REUTERS/Nir Elias/File Photo
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
CHICAGO (Reuters) - The U.S. Chicago Federal Reserve Bank President Charles Evans on Monday sketched a picture of a strengthening U.S. economy but one that's unlikely to break out of its current moderate growth path no matter what the Fed does or doesn't do.
The economy is doing "quite well' and the labor market has been "quite strong," Evans said, predicting economic growth of between 2 percent and 2.5 percent in the second half of this year.
But, he said, there is an "arithmetic" constraint on potential U.S. growth rates, brought by lower productivity growth and slower labor force growth, that will keep potential growth to 1.75 percent to 2 percent in the longer run.
Trying to get growth to rise higher, to say 4 percent, could result in inflation that's out of control, he said.
(Reporting by Ann Saphir; Editing by Chizu Nomiyama)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Heavy flooding in Thailand kills 14, inundates tourist isles
- Apple Watch sales to consumers set record in holiday week, says Apple's Cook
- Aleppo's fall would be win for Russia, defeat for U.S. in Mideast
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!