Fed’s Evans: Need fiscal support to prevent structural scarring to economy

Fiscal support is needed to prevent a “structural scarring” of the US economy, Chicago Federal Reserve Bank President Charles Evans said on Tuesday, as reported by Reuters.

“We are not going to be concerned if unemployment rates go very low, as long as that’s consistent with 2% inflation,” Evans added and said that asset prices are expected to move up when real interest rates remain low. 

Market reaction

The greenback continues to gather strength against its rivals in the American session. As of writing, the US Dollar Index is at its highest level since early August at 93.97, gaining 0.44% on a daily basis.