Fed's Evans: must act quickly as risks change

NEW YORK (Reuters) - Policy-makers must act rapidly if risks are changing quickly, Chicago Federal Reserve President Charles Evans said on Friday.

Evans, speaking at a monetary policy forum organized by the business schools of the University of Chicago and Brandeis University, said policy makers had to adopt a risk management approach to problems with credit markets.

In addition, central bankers realize that adjusting interest rates affects economic activity with a lag, he added.