WASHINGTON – The Federal Reserve should plan to raise interest rates in 2016 fewer times than the U.S. central bank's baseline of four hikes, said Chicago Fed President Charles Evans, on Thursday. "I believe that policy should plan to follow an even shallower path for the federal funds rate than currently envisioned," Evans said in a speech to the Wisconsin Bankers Association in Madison, Wis. Evans said he saw "downside risks" to forecasts that inflation would rise to the Fed's 2% target, even in the next three years. Evans said he was open to changing his mind depending on the data. The Chicago Fed President is one of the most dovish Fed regional bank presidents. He is not a voting member this year.
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