WASHINGTON (AP) — A Federal Reserve policymaker said Wednesday that the central bank should be “exceptionally patient” before raising interest rates, even if it means overshooting the Fed’s inflation target for a time because the risks of moving too quickly remain sizable.

Charles Evans, the president of the Fed’s Chicago regional bank, said that despite improvements in the job market, the economy still needs help from the prolonged period of low rates. He cited examples of central banks that have lifted rates too soon and then faced bigger problems in jump-starting economic growth.