COLUMBUS, GA, March 10 The Federal Reserve
should revamp its so-called forward guidance by reinforcing that
interest rates will stay low for "quite some time" and that much
will depend on continued improvement in the labor market, an
influential U.S. central banker said on Monday.
"It ought to be something that captures well the fact that
(rates are) going to continue to be low well past the time that
we change the language," Chicago Fed President Charles Evans
told reporters at Columbus State University.
"Tick through the different labor market indicators: payroll
employment, unemployment, labor force, vacancies, job openings
and things like that," he said of how to craft the message to
markets. "We somehow want to capture that general improvement in
labor market indicators, but that is hard."
Evans added: "We're going to have accommodation for really
quite some time."