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
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