Federal Reserve policymaker Charles Evans stated is willing to consider all situations at December’s policy meeting, where the U.S. central bank is anticipated to once again raise interest rates. Is the third time a charm?
Evans, head of the Federal Reserve Bank of Chicago, spoke to reporters saying that the increase in global growth was helpful for central bankers, he said, “From the U.S. perspective I find it extremely supportive that the global economy has improved and that makes all of our jobs easier”.
Although, the empty positions on the board Evans noted had become “very challenging”. Those challenges seen by the Fed because of the empty and soon to be empty policymakers’ seats, Evans said, “It’s very useful to have a full complement of governors and I look forward to the President appointing continued very good Governors — all seven of them”.
“You go into December and you all have a discussion and you make a decision,” Evans take on upcoming policy meeting, sounds easy.
“I have argued that I think we still have a ways to go with respect to inflation. I am optimistic that the state of the economy is strong and that’s going to help move inflation in the right direction, but I think we will continue to need accommodative policy” Evans added.
Evans had previously stated that he was concerned about the decrease in U.S. inflation expectancies and then requested for the central bank to act by flagging the probability of higher inflation ahead. In Frankfurt, Evans also became the second Fed policymaker in recent times to request for a larger approach regarding rate setting.
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Lastly, he stated that he anticipates Jerome Powell’s current experience on the Fed board has groomed him well for February, when he will take the reign from Janet Yellen as the new chair of the central bank.