Fed's Evans: Interest Rates to Stay Low for Some Time

Low inflation and high unemployment in the United States justify the Federal Reserve keeping benchmark interest rates ultra-low for "quite some time," Chicago Fed President Charles Evans said on Tuesday.

"We have a little bit 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 inflationary pressures at the moment," Evans told business leaders in Chicago in response to an audience question.

"So I think we will continue to have an accommodative policy stance for quite some time," he said. (more)