October 11, 2017 / 3:03 PM / 9 months ago

Fed's Evans adopts cautious stance on rate hikes

ZURICH (Reuters) - U.S. central banker Charles Evans is advocating a wait-and-see approach for the next round of interest rate hikes by the U.S. Federal Reserve.

Federal Reserve Bank of Chicago President Charles Evans participates in a moderated discussion in Zurich, Switzerland October 11, 2017. REUTERS/Arnd Wiegmann

“I really don’t see any harm in waiting longer to take more stock of the inflation situation,” Chicago Federal Reserve Bank President Evans told reporters after a Bloomberg event in Zurich on Wednesday.

A premature move before higher inflation materialized “may not be very constructive”, he said.

“I think we would be well served by trying harder to get it (inflation) up , even if inflation went to 2.25 percent or 2.5 percent. We need to see substantial progress of inflation in the data.”

Reporting by John Revill and Angelika Gruber; Editing by Joshua Franklin

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