Federal Reserve Bank of Chicago President Charles Evans said Thursday it is likely to be three more years before the U.S. economy is strong enough for the Federal Reserve to raise its short-term interest rate target from its current near-zero settings.
“When people ask me the question ‘What’s my appropriate monetary policy?,’ I suspect that it might be 2024 before we actually raise our interest rate target, but of course if things proceed faster, if inflation sustainably begins to move up, then it could be earlier than that,”…
