Charles L. Evans
Charles L. Evans | |
|---|---|
| Born | January 15, 1958 |
| Occupation | Economist |
| Years active | 1980s–2023 |
| Known for | Ninth president and CEO of the Federal Reserve Bank of Chicago; "Evans Rule" |
Charles L. Evans (born January 15, 1958) held the position of the ninth president and chief executive officer at the Federal Reserve Bank of Chicago from 2007 until 2023. During his tenure, he participated as a voting member on the Federal Open Market Committee (FOMC), the principal entity responsible for setting monetary policy within the Federal Reserve System.
Prior to becoming president, Evans served as director of research and senior vice president, where he managed the Bank’s analytical efforts related to monetary policy, banking, financial markets, and the economic conditions of the region. His earlier roles included vice president and senior economist, positions in which he led macroeconomic research initiatives.
Evans’ scholarly work primarily examines how monetary policy influences economic performance in the United States, inflation trends, and financial market dynamics. His studies have been featured in leading academic publications such as the Journal of Political Economy, American Economic Review, and Journal of Monetary Economics.
He has held teaching appointments in economics at the University of Chicago, University of Michigan, and University of South Carolina. Evans earned his undergraduate degree in economics from the University of Virginia and completed his doctorate at Carnegie Mellon University. In 2024, Carnegie Mellon’s Tepper School of Business honored him with an honorary Doctor of Public Service degree.
Evans is married and has two children.
Evans Rules
In December 2012, the FOMC implemented what became known as the "Evans Rule," a form of conditional forward guidance that Evans championed. This policy pledged to maintain near-zero interest rates until unemployment fell below 6.5% or inflation rose above 2.5%. This represented a move toward more transparent benchmarks in monetary policy communication. Although these specific thresholds were discontinued in March 2014, the Federal Reserve continued its supportive monetary stance thereafter.
External links
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- 1958 births
- 21st-century American economists
- Economists from Illinois
- Federal Reserve Bank of Chicago presidents
- Living people
- Tepper School of Business alumni
- University of Chicago faculty
- University of Michigan faculty
- University of South Carolina faculty
- University of Virginia alumni