While it won’t be the eight years like the last time the Federal Reserve cut interest rates to the zero lower bound, Federal Reserve Bank of Chicago President Charles Evans said he “doesn’t think there will be reason to raise rates anytime soon.” “We just came through a long expansion, although we are in a much different environment right now, I think interest rates will remain low for a quite a long time,” Evans said on a virtual conference call on Tuesday morning. He spoke mostly about the adverse effects of COVID-19 on the economy and presented a baseline case of what he envisions for the remainder of the year.
(Read more: The Bond Buyer)
