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Fed needs stronger forward guidance to convince people ‘we’re really in it to win it,’ Evans says
The U.S. central bank should take additional policy steps that convince the public that policy makers will do what it takes to get the economy going and inflation rising, said Chicago Fed President Charles Evans on Thursday. “A lot of this is convincing...people in the markets and the public that we’re really in it to win it,” Evans said. Evans said the best policy to achieve this goal would be to establish markers that would need to be reached before the Fed raised interest rates. This is known as “foward guidance.” Evans is well known for being the driving force behind the use of forward guidance in the ... (full story)