Chicago Fed President Sees Tame Inflation Ahead

New York, NY, Dec. 21, 2009--Inflation rates are expected to remain modest for the next few years because of high unemployment and other factors, Chicago Fed President Charles Evans told CNBC in an interview.

Inflation expectations are well anchored, he said. Evans said he expects high unemployment to persist, giving the Fed room to keep interest rates low for an extended period.

Evans also said he expects growth in the 3% to 3.5% range for the next year and a half.