Charles L. Evans (born January 15, 1958) was the ninth president and chief executive officer of the

Federal Reserve Bank of Chicago The Federal Reserve Bank of Chicago (informally the Chicago Fed) is one of twelve regional Reserve Banks that, along with the Federal Reserve Board of Governors, make up the United States' central bank. The Chicago Reserve Bank serves the Sevent ...

from 2007 to 2023. In that capacity, he serves on the

Federal Open Market Committee The Federal Open Market Committee (FOMC), a committee within the Federal Reserve System (the Fed), is charged under United States law with overseeing the nation's open market operations (e.g., the Fed's buying and selling of United States Treas ...

(FOMC), the

Federal Reserve System The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a ...

's monetary policy-making body. Before becoming president in September 2007, Evans served as director of research and senior vice president, supervising the Bank's research on monetary policy, banking, financial markets, and regional economic conditions. Prior to that, Evans was a vice president and senior economist with responsibility for the macroeconomics research group. His personal research has focused on measuring the effects of monetary policy on U.S. economic activity, inflation, and financial market prices. It has been published in the ''Journal of Political Economy,'' ''American Economic Review,'' ''Journal of Monetary Economics,'' ''Quarterly Journal of Economics,'' and the ''Handbook of Macroeconomics.'' Evans has taught at the

University of Chicago The University of Chicago (UChicago, Chicago, U of C, or UChi) is a private university, private research university in Chicago, Illinois. Its main campus is located in Chicago's Hyde Park, Chicago, Hyde Park neighborhood. The University of Chic ...

, the

University of Michigan , mottoeng = "Arts, Knowledge, Truth" , former_names = Catholepistemiad, or University of Michigania (1817–1821) , budget = $10.3 billion (2021) , endowment = $17 billion (2021)As o ...

and the University of South Carolina. Evans received a bachelor's degree in economics from the

University of Virginia The University of Virginia (UVA) is a public research university in Charlottesville, Virginia. Founded in 1819 by Thomas Jefferson, the university is ranked among the top academic institutions in the United States, with highly selective ad ...

and a doctorate in economics from Carnegie Mellon University in Pittsburgh. He is married and has two children.

Evans Rules

In December 2012, the Federal Open Market Committee decided to change its broad

forward guidance Forward guidance is a tool used by a central bank to exercise its power in monetary policy in order to influence, with their own forecasts, market expectations of future levels of interest rates. Communication about the likely future course of mone ...

to a more explicit rule. The Evans Rule, a version which had been advocated by Charles Evans for many months, stated that the Committee will hold rates near zero at least until unemployment falls below 6.5% or inflation rises above 2.5%. FOMC Adopts Game-Changing Conditional Inflation Targeting Rule
/ref> The Committee in March 2014 decided to remove the mention of the explicit thresholds in its guidance, but emphasized that there has been no change in the stance of monetary policy.Fed Ditches the Evans Rule
/ref>

References

External links

Charles Evans' Biography
* https://www.cnbc.com/id/44325337 1958 births 21st-century American economists Economists from Illinois Federal Reserve Bank of Chicago presidents Living people Tepper School of Business alumni University of Chicago faculty University of Michigan faculty University of South Carolina faculty University of Virginia alumni {{US-economist-stub