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Fed shouldn't rush to tighten, Evans says: report

Fed shouldn't rush to tighten, Evans says: report (by John Letzing)

SAN FRANCISCO (MarketWatch) -- The president of the Federal Reserve Bank of Chicago has cast doubt on the tightening of U.S. monetary policy, according to a report published Tuesday. The Financial Times reported that Chicago Fed President Charles Evans said that there should be no hurry to tighten monetary policy, despite improving economic growth. "While I'm very pleased at the improvements in the economy I think it's going to continue to be a while before we're safely past these conditions," said Evans, who is a voting member of of the rate-setting Federal Open Market Committee this year, according to the report.