Fed's Evans: 'A couple' of rate cuts may help boost inflation
CHICAGO (Reuters) - Lower interest rates may be needed to help lift inflation and bolster the Fed's credibility in meeting an inflation target it has consistently underrun, Chicago Federal Reserve president Charles Evans said on Friday.
"I am nervous about inflation," Evans said, adding he felt that "a couple of" rate cuts would help lift inflation above the 2 percent target by around 2021, and show that the Fed was willing to balance its years of low inflation with a slightly higher pace of price increases.
(Reporting by Howard Schneider; Editing by Chizu Nomiyama)
© Copyright Reuters Ltd. All rights reserved. The information contained in this news report may not be published, broadcast or otherwise distributed without the prior written authority of Reuters Ltd.