Chicago Fed President Charles Evans on Wednesday said he wants to adjust monetary policy until it is giving the economy a slight boost. This means another quarter-point rate cut this year, he said, in a breakfast conversation with reporters. But Evans said more accommodation could be needed, noting that it has been a very volatile week since the Federal Open Market Committee voted to cut interest rates by a quarter-point. “We don’t know what the downside risks are,” he said. Low inflation alone could justify another rate cut, Evans said. He said inflation as high as a 2.5% annual rate would not be a concern. The FOMC ... (full story)