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On Election Day, Fed official urges U.S. fiscal investment

08 November 2016 20:41 (UTC +04:00)

Baku-APA. U.S. lawmakers should take advantage of low interest rates by making infrastructure investments and encouraging innovations that boost productivity, a Federal Reserve policymaker said on Tuesday as Americans voted in a presidential election, APA reports quoting Reuters.

Charles Evans, head of the Chicago Fed, waded into the fiscal policy debate just as polls opened, noting that the U.S. central bank would be looking for clarity on the government's direction. An outspoken dove, he said his prediction of 1.75 to 2 percent future economic growth was "informed by some assessment of what policies we are likely to entertain" out of Washington.

The Fed, which is expected to raise rates before year end, has occasionally emerged as an issue in the divisive campaign between Hillary Clinton and Donald Trump. Trump, a Republican, said Fed Chair Janet Yellen was keeping rates low to boost President Barack Obama, a Democrat.