With labor market recovery expected to be slow, monetary policy “accommodation will likely be appropriate for some time,” Federal Reserve Bank of Chicago president and chief executive officer Charles L. Evans said yesterday.

“Headline employment indicators appear to be roughly following a conventional track given the severity of the recession. But these measures may not fully capture the weakness displayed in the rising unemployment duration and the withdrawal of workers from the labor force,” Evans said at the NABE Economic Policy Conference, according to prepared text released by the Fed.

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