BEIJING — Chicago Federal Reserve President Charles Evans said Thursday he remains a staunch advocate of more accommodative policy, arguing that recent payrolls data haven't been good enough and that another round of quantitative easing would provide confidence to the markets.
Evans told reporters at a briefing here that July's 163,00 increase in non-farm payrolls was better than expected but said the U.S. economy will need to add "300,000 to 400,000 jobs a month to get back to where we need to be."
While some monetary easing policy has been put into place, the US economy's performance has been unsatisfactory and "can do better," Evans said, stressing that inflationary pressures remain modest.
"The hurdle is not very high for more accommodative policy," he said.
Evans also said near-zero interest rates will be needed for as long as unemployment remains above 7%.
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