Evans named to lead Chicago Fed

WASHINGTON -- The Federal Reserve Bank of Chicago announced Monday that Charles Evans will become its president on Sept. 1, succeeding Michael Moskow, who will retire Aug. 31 after 13 years at the helm.

Evans, 49, is currently senior vice president and director of research at the regional Fed bank. He joined the Chicago Fed in 1991 and has headed the research department since 2003.

In his new post, Evans also will be a member this year of the Federal Open Market Committee, the group that includes Fed Chairman Ben Bernanke and sets interest rate policy in the United States.

The Chicago Fed said Evans is well-respected for his research on inflation, financial market prices and measuring the effect of monetary policy on economic activity in the United States.

Evans received a bachelors' degree in economics from the University of Virginia and a doctorate in economics from Carnegie-Mellon University in Pittsburgh.

Moskow is a former teacher, business executive and U.S. government official who once served as a deputy trade chief.