Fed Needs More Easing Until Economy Grows: Evans

I think the proper response from the urban dictionary would be no sh*t sherlock! The markets have been signaling this for months. Yet, many maintain that the Fed leads rather than follows them.

Headline: Fed Needs More Easing Until Economy Grows: Evans

The Federal Reserve may need to be even more aggressive in its easing policies than it has been so far unless the economy shows significant improvement, Chicago Fed President Charles Evans told CNBC.

A jobless rate at 9.1 percent is "consistent with recession" while inflation is far from a worry, Evans said while defending both the central bank's previous actions to stimulate conditions and his view that even more action along the lines of quantitative easing [cnbc explains] will be needed.

In his view, QE needs to stay in place until unemployment plunges to 7 percent or if inflation gets past 3 percent. Core inflation, which strips out food and transportation, is about 1.8 percent, though the number is 3.6 percent including the more volatile measures.

Source: cnbc.com