Evans Sees ‘High Hurdle’ to Alter $600 Billion in Fed Purchases

Federal Reserve Bank of Chicago President Charles Evans said he expects the Fed to complete its plan to purchase $600 billion in U.S. Treasuries through June.

“It could be that $600 billion is just about the right number,” Evans said to reporters before a speech in Columbia, South Carolina. “I won’t be surprised if that in fact is the decision. I still think it is a high hurdle to stop short of $600 billion. So far I haven’t seen it.”

The Fed’s policy committee said March 15 that the U.S. economic recovery “is on a firmer footing,” while the labor market is “improving gradually.” Policy makers reiterated their intent to buy bonds through June to bolster growth and reduce unemployment.

To contact the reporters on this story: Steve Matthews in Columbia, South Carolina at 1310 or smatthews@bloomberg.net

To contact the editor responsible for this story: Christopher Wellisz at cwellisz@bloomberg.net