Fed's Evans In Favor of Strong Accommodation
Tweet
Share
E-mail
The QE3 camp got a boost today after dovish comments from Chicago Federal Reserve President Charles Evans on CNBC Tuesday morning.
Evans said he favors "strong accommodation." He was also supportive of QE2, saying the economy would have been worse off without it. In addition, he said the rise in commodity prices was not related to Fed policy.
"Given the way the economy is growing and inflationary pressures are not nearly as strong as a lot of people think, I think that there's room for accommodation," Evans said."
Comments from Evans suggests that there is a growing consensus on the FOMC, led by Chairman Ben Bernanke, that is strongly dovish and in favor of more monetary easing.
Gold lifted in response to the comments from Evans. Gold for October last traded up $36.10 to $1827.70.
VIDEO:
Evans said he favors "strong accommodation." He was also supportive of QE2, saying the economy would have been worse off without it. In addition, he said the rise in commodity prices was not related to Fed policy.
"Given the way the economy is growing and inflationary pressures are not nearly as strong as a lot of people think, I think that there's room for accommodation," Evans said."
Comments from Evans suggests that there is a growing consensus on the FOMC, led by Chairman Ben Bernanke, that is strongly dovish and in favor of more monetary easing.
Gold lifted in response to the comments from Evans. Gold for October last traded up $36.10 to $1827.70.
VIDEO:
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Fed's Williams says rate hikes possible if inflation persists
- Continental earnings preview: BofA sees potential guidance upgrade as tire execution remains strong
- Evercore says this stock is one of the biggest AI server beneficiaries
Create E-mail Alert Related Categories
Fed, Hot List, Trader TalkRelated Entities
Ben S. Bernanke, Federal Open Market CommitteeSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
