Fed members mistreating inflation target: Evans

WASHINGTON (MarketWatch)
Members of the Federal Open Market Committee aren't the treating the central bank's 2% target as symmetric despite Fed Chairman Ben Bernanke saying it is, Chicago Fed President Charles Evans told a conference in Bangkok, according to a transcript of his remarks
Evans noted several members called for rate hikes before the end of 2014 despite projecting inflation at or below 2% and unemployment at unsustainably high levels
Bernanke said the inflation target isn't a ceiling, said Evans, who isn't a voting FOMC member this year
The low rate on the 10-year Treasury bond also is evidence the market expects modest growth and low inflation in the years ahead, he said
 He said the Fed's decision in June to extend a bond-swap program known as Operation Twist was "useful" but that he would have preferred a stronger step, like buying mortgage-backed securities