Fed’s Evans: Economy is looking stronger in Q1 than it did in Dec.

Chicago President Charles Evans, in a television appearance on CNBC's Squawk Box this Monday, said that the US economy is looking stronger in Q1 than it did in Dec. but inflation is a bit lower than I would like it to be.

Key quotes:

   •  I'm looking for 1.75%-2.00% growth this year.
   •  The economy is doing fine.
   •  The unemployment rate is likely to go sideways or down a little bit.
   •  What is concerning me is that inflation isn't hitting 2%.
   •  I had supported more hikes because I expected inflation to be higher.
   •  I'm quite comfortable with everything we did on rates.
   •  We can continue to probe wage growth.
   •  Until cost pressures lead to inflation, I'm happy to wait and see.
   •  A recession would be unexpected.
   •  We have less capacity to cut rates if we get into a downturn.