Charles Evans, president of the Federal Reserve Bank of Chicago, told CNBC that he was 'open-minded' when asked about the right level for interest rates in the U.S.
Charles Evans, president and chief executive officer of the Federal Reserve Bank of Chicago, told CNBC Monday that he was "open-minded" when asked about the right level for interest rates in the U.S.
"I'm definitely open minded about what the right level of the federal funds rate target is to have appropriate monetary policy. At the moment I think appropriate monetary policy is somewhat under the neutral rates so that we are providing accommodation," he told CNBC's Annette Weisbach in Frankfurt. "What we've done already might be sufficient, but I'm open minded to suggestions that we might need more, at the moment I'm going to be looking at the data," he said, specifying inflation and labor market data as key metrics.the U.S. Federal Reserve approved a quarter-point interest rate cut earlier in September
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