Federal Reserve Bank of Chicago President Charles Evans says he still sees the central bank on pace to raise its benchmark interest rate one or two more times in 2017.
Evans said during a March 29 speech he views the Fed as close to achieving both sides of its dual mandate, and that his outlook "allows me to support another one or two increases this year."
The Chicago Fed chief, who spent years urging policymakers to be cautious about tightening policy in the wake of the financial crisis, also said in his speech that the environment had shifted for policymakers. There is now more potential scenarios in which the economy might perform better than policymakers' projections, according to Evans.
"For the first time in quite a while, I see more notable upside risks to growth," Evans said.