Evans: Interest rates to remain lowNews added by ProWEB Media on June 8, 2010
Gary Linnell

ProWEB Media

Joined: December 27, 2005

Low inflation and stubbornly high unemployment in the U.S. justify the Federal Reserve's decision to hold benchmark interest rates at their current levels for "quite some time," according to Chicago Fed President Charles Evans.

Speaking to business leaders in Chicago, he said, "We have a little more risk with the European situation; the (U.S.) outlook looks good but not so strong as to reduce the unemployment rate very quickly; I don't see the inflationary pressures at the moment. So, I think we will continue to have an accommodative policy stance for quite some time."

He also specified that the Fed's promise to keep rates low for "an extended period of time" translates to approximately six months, in his opinion.
The views expressed here are those of the author and not necessarily those of ProducersWEB.
Reprinting or reposting this article without prior consent of Producersweb.com is strictly prohibited.
If you have questions, please visit our terms and conditions
Post Press Release