Central bankers may have become too conservative, overcompensating for past inflationary biases, the Federal Reserve Bank of Chicago’s Charles Evans said on June 19.

In remarks delivered in New York, the Chicago Fed president said central bankers had learned the lessons of the 1970s – trying to hold unemployment below its long-run level was a recipe for inflation. But he warned central bankers may still be trying to correct for their old inflationary bias, even though inflation is now better