Evans: Fed must keep rates low to protect target symmetry

Federal Reserve
Federal Reserve, Washington, DC

The Federal Reserve should keep rates lower for longer to preserve the symmetry of its 2% inflation target, Charles Evans argued today (May 18).

Evans, president of the Federal Reserve Bank of Chicago, thinks it inappropriate to start hiking rates this year, as he only expects inflation to reach 2% in 2018.

If inflation remains below target for that long, Evans said, at the Swedbank Global Outlook Summit in Stockholm, it could damage inflation expectations in the US.

Fed officials are divided on

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