The Federal Reserve should continue raising interest rates to at least a neutral level, Chicago Federal Reserve President Charles Evans said in an Oct. 12 CNBC interview.
Evans said the Fed should pursue at least a neutral federal funds rate after years of accommodative policy. The Fed defines a neutral rate as one that neither encourages nor restricts economic growth.
The Chicago Fed president cited inflation reaching the Fed's 2% target level as one of the reasons to keep raising rates. He also told CNBC the fundamentals of the U.S. economy look strong.
Evans declined to comment to CNBC about President Donald Trump's criticism of the Fed in recent days for rising market volatility.
Evans serves as an alternate voting member of the Federal Open Market Committee this year and is set to have a vote in 2019.