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Fed's Evans says low global inflation is a puzzle

[LAKE FOREST] Low global inflation is a puzzle and its drivers are not fully understood, a top Fed official said on Wednesday, adding that it could be one reason why US inflation remains low.

Chicago Federal Reserve Bank President Charles Evans, speaking to a rotary club here, said that it is possible that US economic growth could boost inflation domestically, delinking it from the rest of the world. But he said his chief worry is that inflation will stay low in the United States.

He also said that a US bill dubbed "audit the Fed" is misguided and said it is important the Fed continues to make monetary policy decisions independently of political pressures or elections.