Evans: Fed should keep raising rates if inflation nears 2%

NEW YORK: The Federal Reserve should continue gradually raising interest rates if data on consumer prices available by the central bank’s mid-June policy meeting indicate inflation will soon reach the 2% target, Chicago Fed President Charles Evans said.

“If the data themselves are at 2%, if they are more consistent with us getting to 2% very soon, then I think that continuing our slow, gradual increases will be appropriate,” Evans said Saturday while speaking to reporters following a talk at the University of Chicago.