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shared by bparksj28 on 26 Jul 13 - No Cached

shared by bparksj28 on 28 Nov 12 - No Cached

Charles Evans, president of the Chicago Fed, wants the central bank to keep the federal funds rate near zero until unemployment falls to 6.5% -- a jobless rate not seen since 2008.
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in January he will rotate into a voting role on the Fed's policymaking committee. For about a year, he has been urging his colleagues to publish clear economic targets that would guide the central bank's policies.
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. He wants to see the unemployment rate fall to at least 6.5% and inflation not exceed 2.5% a year
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hope behind the policy is that numerical targets will lift some of the mystery surrounding the Fed's decisions.
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As economic data is released, the public can base their expectations for Fed policy on a clearer picture of the central bank's goals.
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"I support this approach because it would enable the public to immediately adjust its expectations concerning the timing of liftoff in response to new information affecting the economic outloo
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The Fed has kept interest rates near zero since late 2008 in an effort to stimulate the economy. While the unemployment rate has since fallen slightly to 7.9%, the Fed is still unsatisfied with that level and has been pursuing additional alternative policies to boost the economy further.
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The Fed's policymaking committee is next scheduled to meet Dec. 11-12.
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