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- Chicago Fed President Charles Evans: a slow pace of interest rate hikes would be appropriate
Chicago Fed President Charles Evans: a slow pace of interest rate hikes would be appropriate
Chicago Fed President Charles Evans said in a speech on Tuesday that a slow pace of interest rate hikes would be appropriate as there were still the downside risks to the outlook.
"A very shallow path - such as the one envisioned by the median FOMC (Federal Open Market Committee) participant in March - is the most appropriate path for policy normalization over the next three years," he said.
Chicago Fed president expects the U.S. economy to expand 2% - 2.5% this year.
Evans is not a voting member of the FOMC this year.
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