The Fed's Charles Evans said he remains 'cautiously optimistic' that the U.S. economy can avoid a recession provided there are no further external shocks.
Speaking to CNBC's "Squawk Box Europe" on Tuesday, Evans said he remains "cautiously optimistic" that the U.S. economy can avoid a recession — provided there are no further external shocks.
Charles Evans, president of the Federal Reserve Bank of Chicago, speaks during the National Association of Business Economics annual meeting in Arlington, Virginia, U.S., on Monday, Sept. 27, 2021.Chicago Federal Reserve President Charles Evans says he's feeling apprehensive about the U.S. central bank raising interest rates too quickly in its quest to tackleSpeaking to CNBC's "Squawk Box Europe" on Tuesday, Evans said he remains "cautiously optimistic" that the U.S.
Asked about investor fears that the Fed didn't seem to be waiting long enough to adequately assess the impact of its interest rate hikes, Evans replied, "Well, I am a little nervous about exactly that." The Fed's Evans, 64, has consistently been one of the Fed's policy doves in favor of lower rates and more accommodation."Again, I still believe that our consensus, the median forecasts, are to get to the peak funds rate by March — assuming there are no further adverse shocks. And if things get better, we could perhaps do less, but I think we are headed for that peak funds rate," Evans said.
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