Fed's Evans: Latest Fed Statement Fits With No Rate Action For Quite Some Time

MarketWatch Pulse

The wording of the latest Federal Reserve policy statement fits neatly with a scenario where the U.S. central bank takes no action "for quite some time," said Charles Evans, the president of the Chicago Fed, on Friday. Evans was explaining his vote for the policy statement despite his position that the Fed should be cautious and not hike rates until 2016. The Fed dropped the word "patient" from its statement, and signaled that a rate hike will be on the table as soon as June. Earlier in a separate appearance, Atlanta Fed President Dennis Lockhart said a rate hike would be on the table in June, July and September meetings. Evans said he did not agree with arguments that the Fed should hike rates to deflate potential asset bubbles.

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