Fed Presidents Clash Over Need to Provide More Stimulus

Federal Reserve regional bank presidents voiced opposing views over whether the central bank should step up record accommodation following the lowest monthly increase in U.S. payrolls in a year.

Chicago Fed President Charles Evans said in a speech in New York yesterday that “soft” U.S. economic data call for “extremely strong accommodation,” while Richard Fisher of Dallas said more easing through Fed purchases of bonds would be “pushing on a string.” James Bullard of St. Louis said there’s time to assess the economy and a policy change isn’t needed now.