Bloomberg (06/06/12) Caroline Salas Gage; Jeff Kearns
Chicago Federal Reserve president Charles Evans insists that “extremely strong accommodation” is needed in response to soft economic data and that the U.S. Federal Reserve should state that interest rates will be held down unless the unemployment rate dips under 7% or inflation jumps above 3% during “the medium term.” However, Dallas Federal Reserve president Richard Fisher opposes more bond purchases by the central bank because it would do little to help the economy. Meanwhile, St. Louis Federal Reserve president James Bullard says more time should be taken to assess the economy before moving forward with policy change, noting that the economic outlook has not been altered by the recent payroll data.
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