Fed's Evans backs more easing given weak job data

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Fed's Evans backs more easing given weak job data (by Greg Robb)

WASHINGTON (MarketWatch) -- The Federal Reserve should consider further strong easing moves with the labor market in a recession-like state, said Charles Evans, the president of the Chicago Fed, on Tuesday. "I think we need to do more," Evans said in an interview with CNBC. Evans said he was "somewhat nervous" about the recovery and described the labor market as in a recession-like state. Evans said he favored a stronger easing move at the Aug. 9 FOMC meeting than was ultimately inacted. At the meeting, the FOMC said it thought that short-term interest rates would remain near zero until mid-2013.

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