Evans Says Fed Support Needed While Deficit Tackled

Federal Reserve Bank of Chicago President Charles Evans said the U.S. central bank should keep policy accommodative to support the economy while lawmakers reduce government spending to tame the country’s budget deficit.

The government should put “in place policies that slowly but surely bring the prospects of future revenues into balance with future spending,” Evans said in remarks in Hong Kong today. “Under this scenario, monetary policy has an important contribution to make.”