Charles Evans, Interview: Detroit Economic Club

“I would say a neutral setting for monetary policy is somewhere in the 2.25 to 2.5% range. And I would say that it would be good if we got there… Well, most recently I thought by the end of our next March meeting would be a time when we’d be at the 2.25 to 2.5% range. If we accelerated that so that we were there in December, that would be okay too. I don’t think it’s going to make a lot of difference, those three months. I think that by the time we get to December, we ought to see whether or not we see some rollover in the inflation data, whether or not some other shocks make their way into our forecast in ways that I never envisioned, but could be problematic for policy. Or whether or not they mean that some vibrancy is being taken away from the labor market and businesses.”