Topic: Fed Watch
FRB Chicago's Evans: "far more accommodation is required"
06.10.10 10:27In an interview conducted on Monday with the WSJ, Charles Evans, President of the Federal Reserve Bank of Chicago, gave even stronger backing to a move to QE-2 by the Fed (compared with his remarks last week), in arguing, "in the last several months I've stared at our unemployment forecast and come to the conclusion that it's just not coming down nearly as quickly as it should. This is a far grimmer forecast than we ought to have" and hence he argued that the Fed needed "more accommodation". While expressing sympathy towards the argument advocated by St Louis Fed President Bullard, that there should be a state contingent asset purchase programme, he added, "I just think that far more accommodation is required".