Chicago Fed's Evans calls for Immediate ACTION *PIC*

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Chicago Fed's Evans calls for immediate action (by Steve Goldstein)

WASHINGTON (MarketWatch) -- In a speech in Hong Kong, Chicago Fed President Charles Evans said the central bank should make open-ended purchases of mortgage-backed securities until the economy shows clear signs of improvement, such as a steady drop in unemployment for two or three quarters. The dovish Evans isn't a voting member this year. "Given the risks we face, I think it is vital that we make such moves today. I don't think we should be in a mode where we are waiting to see what the next few data releases bring. We are well past the threshold for additional action; we should take that action now," he said.

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