September 25, 2017 / 5:39 PM / 2 years ago

Fed's Evans says monetary policy still accommodative

GRAND RAPIDS, Mich. (Reuters) - U.S. monetary policy is still accommodative despite the fact that the Federal Reserve has raised rates gradually since 2015 and last week said it will begin to trim its bond holdings next month, Chicago Federal Reserve Bank President Charles Evans said Monday.

Still, he said, it is important for the Fed to meet its 2-percent goal for inflation, not in small part because a shortfall hurts borrowers, and to do so it must remove accommodation only very gradually.

Reporting by Ann Saphir; Editing by Chizu Nomiyama

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