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Chicago Fed President Charles Evans said on Tuesday that he expected two interest rate hikes by the Fed this year but declined to say when the Fed should raise interest rate.
He also said that the Fed should wait until inflation in the U.S. will pick up toward 2% target before hiking interest rate further.
Evans pointed out that a weak corporate spending, low commodities prices, the slowdown in the Chinese economy and market volatility weigh on the U.S. economic growth.
Evans is not a voting member of the Federal Open Market Committee (FOMC) this year.
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