Federal Reserve Bank of Chicago President Charles Evans said in Stockholm on Monday that the Fed should delay its interest rate hike until early 2016 as inflation in the U.S. is still low.
Evans noted that the Fed could raise its interest rate in every monetary policy meeting, depending on the incoming data. He added that he projects the U.S. economy need more time to recover from the first-quarter weakness.
The Federal Reserve Bank of Chicago president doesn't believe that inflation will increase to 2% target until 2018. He also said that the Fed should allow inflation to rise above its 2% target.
Evans is a voting member of the Federal Open Market Committee this year.