Fed’s Evans says wanted to wait until midyear for rate hike

(Reuters) – Chicago Federal Reserve Bank President Charles Evans on Wednesday said that in late 2017 when the rest of his Fed colleagues decided to raise interest rates for a third time, he wanted to wait until mid-2018 for another rate hike.

“I’d feel a lot more confident if I saw those transitory reductions in the inflation rate go away,” he said, explaining his dissent in his first public remarks of 2018. He added that he expects the U.S. economy to grow a touch faster than 2.5 percent this year, helped by recent tax cuts, and a touch slower than 2.5 percent next year, and for the labor market to continue to strengthen.

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