The Federal Reserve's policy meeting this month, at which it's widely expected to raise interest rates for the first time in nearly a decade, has become a source of apprehension for Chicago Fed President Charles Evans.
"I admit to some nervousness about our upcoming decision," Evans, a 2015 voter on the policy-setting Federal Open Market Committee (FOMC), said Tuesday in remarks prepared for a speech in East Lansing, Michigan.
Evans, among the most dovish of Fed policy makers, reiterated that he "would prefer to have more confidence than I do today that inflation is indeed beginning to head higher" before raising rates, adding that "regardless of the exact date for liftoff, I think it could well be appropriate for the funds rate to still be under 1 percent at the end of 2016."
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