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Fed's Evans sees higher rates ahead, no need for explicit stimulus
December 5, 2016 / 3:52 PM / 9 months ago

Fed's Evans sees higher rates ahead, no need for explicit stimulus

Chicago Federal Reserve President Charles Evans answers a question at the Chicago Banking Symposium in Chicago, Illinois, United States, June 3, 2015. REUTERS/Jim Young

CHICAGO (Reuters) - Chicago Federal Reserve Bank President Charles Evans said on Monday that with U.S. unemployment at 4.6 percent, “you don’t need explicit stimulus” from government infrastructure spending as would have been helpful earlier in the recovery.

Evans, speaking with reporters after a speech here, said it was too early to assess the impact of the incoming Trump administration on U.S. growth, but noted that he expects what has been a long period of low interest rates to end.

“We are on the cusp of a period of rising interest rates,” Evans said. “The markets are seeing reasons for higher interest rates.”

Reporting by Ann Saphir; Editing by Meredith Mazzilli

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