Chicago Fed president Evans is on CNBC with an upbeat forecast for 2010, but he expects unemployment to continue to rise in 2010 before improving. 2010 will definitely be better than 2008 and 2009, he says.
Accommodation will be required in coming years, even as rates are rising. He is non-committal on a date for beginning to hike rates, not surprisingly.
Extended period means 3-4 Fed meetings, Evans says, in line with the market’s reading.