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Charles Evans

President, Federal Reserve Bank of Chicago

Policy Stance Dovish
Voting Member Yes
Date Assumed Current Office 04/27/2015
Rate Outlook
"I see no compelling reason for us to be in a hurry to tighten financial conditions until then," Evans recently said. "Economic conditions are likely to evolve in a way such that it will be appropriate to hold off on raising short-term rates until 2016." He warns that raising rates too quickly could mean a deflationary spiral like the one that has crippled Japan. "They've been suffering the consequences of that loss of credibility for a very long period of time," Evans said. "I'd rather see inflation go above 2% a little bit, maybe 2.5%, than having to worry about a situation like that."
Biography
Before becoming president in September of 2007, Evans served as director of research and senior vice president, supervising the Bank's research on monetary policy, banking, financial markets and regional economic conditions. Prior to that, Evans was a vice president and senior economist with responsibility for the macroeconomics research group. Evans received a bachelor’s degree in economics from the University of Virginia and a doctorate in economics from Carnegie Mellon University in Pittsburgh.