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Fed's Evans: need to stay patient on raising rates

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The US jobs market is making "good, good progress," Chicago Federal Reserve Bank President Charles Evans said on Friday, but added that with inflation still low the US central bank should defer raising rates until next year.

[WASHINGTON] The US jobs market is making "good, good progress," Chicago Federal Reserve Bank President Charles Evans said on Friday, but added that with inflation still low the US central bank should defer raising rates until next year.

"If we are going to get inflation up to our 2-per cent objective... we are going to have to see wages increase more," Mr Evans told CNBC in an interview, minutes after a government report showed hourly wages declined in December despite strong job gains.

"That's why I'm in favour of being patient on raising interest rates."

REUTERS

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