Fed should refrain from raising rate until early 2016

May 20, 2015

The US central bank shouldn't raise interest rates until at least early 2016, Chicago Federal Reserve President Charles Evans repeated on Wednesday.

Evans, who is a voting member of the bank's rate-setting committee this year, is well-known FOMC 'dove', as he fears rushing the decision might undermine the economic recovery. 

Key Quotes:

"Inflation is too low,"

"The FOMC (Federal Open Market Committee) should refrain from raising the federal funds rate until there is much greater confidence that inflation one or two years ahead will be at our 2% target." 

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