While you were sleeping: Evans calls for patience on rates

Mon, 13 Oct 2014

By Margreet Dietz Oct. 14 (BusinessDesk) - Wall Street inched higher, while the greenback weakened, as another US Federal Reserve official stressed the importance of patience with the central bank before it starts raising interest rates. “I believe that the biggest risk we face today is prematurely engineering restrictive monetary conditions,” Chicago Fed President Charles Evans said in a speech in Indianapolis, Indiana. “I am very uncomfortable with calls to raise our policy rate sooner than later. I favour delaying liftoff until I am mo...

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