Fed's Evans repeats call for 'shallow' US rate hikes

[HONG KONG] A top Federal Reserve policymaker on Tuesday repeated his call for just two US interest-rate hikes this year, saying that the risks to his forecast for economic growth are weighted to the downside.

"A very shallow funds rate path, such as the one envisioned by the median FOMC participant, is appropriate," Chicago Fed President Charles Evans said in remarks prepared for delivery in Hong Kong.

The FOMC, or Federal Open Market Committee, is the Fed's policy-setting body; in March the FOMC's median forecast called for two rate hikes this year.

Evans' remarks were very similar to those he made last week in New York. Evans does not vote on monetary policy this year.

REUTERS