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Topic - Charles Evans
Supporters of Republican presidential candidate Mitt Romney plan a campaign fundraiser for him Thursday in Hong Kong as U.S.-China trade friction becomes an issue in the White House race.
Nobody ever said reading the Federal Reserve was easy. On Wednesday, the Fed appeared to suggest it was closer to taking additional steps to help the U.S. economy. Stocks rallied as a result and finished the day well off their lows. But the prospect of Fed help seemed much less certain Thursday, and stocks fell.
U.S. stocks are closing higher, recovering some of their big loss from a day earlier, after a Federal Reserve official said he supported more measures to stimulate the economy.
Charles Evans, president of the Federal Reserve Bank of Chicago and an alternate member of the Fed's Open Market Committee, said Monday in a speech in Hong Kong that central banks should help create conditions to foster "robust demand growth" as the U.S. and other advanced economies try to reduce debt.
Charles Evans, president of the Federal Reserve Bank of Chicago, said Wednesday that he wholeheartedly supported the moves the Fed took earlier this month to buy $40 billion in mortgage-backed securities every month in an effort to drive interest rates lower and stimulate economic growth.