Timing of Rate Hike ‘Not Really That Critical’: Fed’s Evans

There could be two rate hikes in 2016 if data continue to be favorable but the timing of both won’t prove to be crucial, Charles Evans, the Chicago Federal Reserve president, told CNBC on Thursday.

“Two rate hikes in 2016, that’s my own call for that, if the data continue to be in line with my outlook, that’s a slow and gradual increase this year,” said Evans, who is an alternate member of the FOMC (Federal Open Market Committee) and votes on decisions when a full-time committee member is unable to.

“Timing’s not really that important, you mentioned possibly two summer hikes, that would be a little bit more than I’d say is … priced in to the dots certainly and the market expectations,” Evans added in an interview aired on Friday.

“Timing’s not really that critical for my viewpoint, as long as by the end of this year we’re at just a little under 1 percent,” Evans added.

CNBC

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.