Chicago Fed president wants more evidence of inflation

Federal Reserve
Federal Reserve, Washington, DC

Federal Reserve Bank of Chicago president Charles Evans has a "somewhat more accommodative" view on the appropriate path for US monetary policy than his colleagues on the Federal Open Market Committee (FOMC), he revealed on September 28, as he advocated an "extra-patient approach".

His reluctance to raise interest rates stems from his concerns over the inflation outlook. While he expects the Fed to reach its employment goal "within a reasonable period", he is "far less confident" about inflation

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