Charles Evans became president and CEO of the Chicago branch of the Federal Reserve Bank in September 2007, just in time to help the Fed fight through the Great Recession.
by signing up you agree to our terms of service The policy work as a staffer, he said, was excellent experience for the promotion to come. And the inside knowledge of the Chicago Fed was helpful when he was tabbed to run the 1,600-person operation that includes bank examiners, workers who print U.S. currency and of course policy analysts.
That's when his staff experience paid off. He felt prepared when he had to jump right into a tough time for the economy. "It was an intense time," Evans said of his 15-year tenure."It was a very challenging time, but I had been with the Fed since 1991. My first FOMC meeting I attended was 1995. I'd seen difficult times: irrational exuberance, productivity acceleration, 9/11 and everything that came with those security challenges and what it did to the economy, the dot.com bubble and all of that.
Evans said the size of the labor force and willingness to work will continue to be a"limiting factor on the U.S. economy until something turns around."
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