Low inflation and high unemployment in the United States justify the Federal Reserve keeping benchmark interest rates ultra-low for quite some time, Chicago Fed President said on Tuesday.

We have a little bit more risk with the European situation; the (U.S.) outlook looks good but not so strong as to reduce the unemployment rate very quickly; I don't see inflationary pressures at the moment, Evans told business leaders in Chicago in response to an audience question.

So I think we will continue to have an accommodative policy stance for quite some time, he said.

Evans, who is not a voter on the Fed's policy-setting Federal Open Market Committee this year, reiterated that the Fed's pledge to keep rates low for an extended period means about six months to him.

Inflation Federal reserve Unemployment