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Fed's Charles Evans will go into December meeting with open mind

Reuters  |  LONDON 

By Marc Jones and Helen Reid

(Reuters) - Federal Reserve policymaker Charles said he will go with an open mind into next month's policy meeting, at which the U.S. central is expected to raise interest for a third time this year.

Speaking to reporters on Wednesday, Evans, who heads the Federal Reserve of Chicago, said the pick-up in global growth was making life easier for central bankers but that the number of vacant positions on the Fed's board was "very challenging".

"You go into December and you all have a discussion and you make a decision," said on next month's meeting.

"I have argued that I think we still have a ways to go with respect to inflation. I am optimistic that the state of the economy is strong and that's going to help move inflation in the right direction but I think we will continue to need accommodative policy."

But the improving economic backdrop was helpful, he said: "From the U.S. perspective I find it extremely supportive that the global economy has improved and that makes all of our jobs easier."

said earlier said in a speech that he was worried about a drop in U.S. inflation expectations, and called for the central to respond by flagging the likelihood of higher inflation ahead.

In Frankfurt on Tuesday he also became the second policymaker in recent days to call for a broader approach to rate-setting.

Noting the challenges facing the due to the vacant or soon-to-be vacant policymakers' seats, added: "It's very useful to have a full complement of governors and I look forward to the President appointing continued very good Governors -- all seven of them."

On how long it might take to appoint the full board, said: "I can't guess, I have no idea. That's a political question."

He said he expected Jerome Powell's experience on the current board to set him up well when he takes over from Janet Yellen as chair of the central in February.

(Reporting by Marc Jones and Helen Reid; Editing by Catherine Evans)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, November 15 2017. 16:33 IST
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