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Fed is 'here to deliver' on jobs growth, Evans says
November 19, 2013 / 7:32 PM / 4 years ago

Fed is 'here to deliver' on jobs growth, Evans says

CHICAGO (Reuters) - The Federal Reserve’s biggest challenge today is the credibility of its promise to boost jobs and bring excessively low inflation back to the Fed’s 2-percent goal, a top Fed official said on Tuesday.

Chicago Federal Reserve Bank President Charles Evans speaks during the Sasin Bangkok Forum July 9, 2012. REUTERS/Sukree Sukplang

People need to understand that the Fed is “here to deliver” on both goals, and probably continue to buy bonds until the total purchases under the current bond-buying program reaches about $1.5 trillion, Chicago Federal Reserve Bank President Charles Evans told the Illinois Bankers Association.

“I would say the benefits far outweigh the costs” for now, Evans said, of the Fed’s $85-billion-a-month bond-buying program.

“We are going to keep at it,” he said.

Reporting by Ann Saphir; Editing by Chizu Nomiyama

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