Federal Reserve

Fed's Evans says not yet confident US inflation headed higher

Charles Evans, president and CEO of the Federal Reserve Bank of Chicago.
David Orrell | CNBC

While the Federal Reserve's preferred inflation target is close to a 2-percent goal, an outspoken Fed dove said on Tuesday he would "feel better" about raising U.S. interest rates if he were more confident it would continue to rise.

Inflation stuck below the goal is "one of the larger risks" facing the U.S. central bank, Chicago Fed President Charles Evans said at the Council on Foreign Relations. He added it was critical to at least hit the target to convince the public that 2 percent is not a ceiling.