Fed's Evans says strong dollar a challenge, but transitory

From reuters.com

Chicago Federal Reserve President Charles Evans said on Wednesday the dollar's recent appreciation would weigh on inflation by lowering import prices but that this would be short-lived. "To the extent that whatever movements in the dollar take place and then there’s some level of stability, that change in import prices unwind," Evans, an advocate for restraint in raising U.S. interest rates, said. "It is transitory and our normal U.S. monetary influences on inflation ought to become more important at that point." Evans was speaking in London at an conference being hosted by the Official Monetary and Financial ... (full story)