Charles Evans, president of the Federal Reserve Bank of Chicago. Speaking in NY:

  • Says need very gradual interest-rate hikes, slow reductions in fed balance sheet
  • Says does not want to get hung up over whether 2 or 3 or 4 rate hikes this year
  • Federal Reserve rate hikes should be determined by outlook for achieving goals
  • Federal Reserve has essentially met employment goal
  • Sees low inflation as 'serious' policy miss

I was expecting Evans at 2300GMT, but here is the text of his speech early. Quick headlines via Reuters.

(Oh yeah, in the heading to the post I refer to Federal Reserve b/s ... that's the balance sheet ... what else could it possibly mean? ;-) )

Evans and Yellen

Evans leans towards the dovish end of the spectrum.