description Charles Evans Overview
Charles Evans is an American economist who served as the president and chief executive officer of the Federal Reserve Bank of Chicago from 2007 until his retirement in 2023. As a long-standing member of the Federal Open Market Committee (FOMC), he played a significant role in shaping United States monetary policy following the 2008 financial crisis. Evans is particularly recognized for his advocacy of state-contingent forward guidance, an approach often referred to as the "Evans Rule," which tied future interest rate increases to specific thresholds in unemployment and inflation to better anchor market expectations.
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Who was Charles Evans at the Federal Reserve?
Charles Evans was an American economist who led the Federal Reserve Bank of Chicago as president and chief executive officer. He served in that role from 2007 until retiring in 2023.
What was Charles Evans' role on the FOMC?
As Chicago Fed president, Evans took part in the Federal Open Market Committee, the group that sets US monetary policy. His views often focused on employment, inflation, and the risks of tightening policy too soon.
Which Federal Reserve bank did Charles Evans lead?
He led the Federal Reserve Bank of Chicago. That bank is one of the twelve regional Federal Reserve Banks in the United States.
When did Charles Evans retire from the Chicago Fed?
Evans retired from the presidency of the Federal Reserve Bank of Chicago in 2023. His tenure began in 2007 and covered the global financial crisis, the recovery, and the pandemic-era policy period.
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