Charles L. Evans

American economist

Charles Evans

Evans in 2022

President of the Federal Reserve Bank of Chicago
In office
September 1, 2007 – January 9, 2023
Preceded by| Michael H. Moskow
Succeeded by| Austan Goolsbee
Personal details
Born|  (1958-01-15) January 15, 1958 (age 66)
Education| University of Virginia (BA)
Carnegie Mellon University (MA, PhD)

Official portrait

Charles L. Evans (born January 15, 1958) is the former ninth president and chief executive officer of the Federal Reserve Bank of Chicago, serving from 2007 to 2023.[1] In that capacity, he served on the Federal Open Market Committee (FOMC), the Federal Reserve System'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 Michigan and the University of South Carolina.

Evans received a bachelor's degree in economics from the University of Virginia and a doctorate in economics from Carnegie Mellon University in Pittsburgh. In 2024, he received an honorary Doctor of Public Service from CMU's Tepper School of Business.[2]

He is married and has two children.

## Evans Rules

[edit]

In December 2012, the Federal Open Market Committee decided to change its broad forward guidance 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%.[3] 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.[4]

## References

[edit]

1. ^ Federal Reserve Bank of Chicago. "Charles Evans - Federal Reserve Bank of Chicago". Retrieved July 17, 2018.
2. ^ University, Carnegie Mellon. "Tepper School Alumnus Among 2024 Honorary Degree Recipients - Tepper School of Business - Carnegie Mellon University". www.cmu.edu. Retrieved 2024-05-08.
3. ^ FOMC Adopts Game-Changing Conditional Inflation Targeting Rule
4. ^ "Fed Ditches the Evans Rule". Business Insider.

## External links

[edit]

* Charles Evans' Biography
* https://www.cnbc.com/id/44325337

Other offices

Preceded by

Michael H. Moskow

|  President of the Federal Reserve Bank of Chicago
2007–2023  | Succeeded by

Austan Goolsbee

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