Federal Reserve Bank of Chicago President Charles Evans said the U.S. economy has improved “quite a lot” as the central bank maintains record stimulus and expressed confidence policy makers have tools needed to monitor markets for excesses.
“I’m optimistic that the labor market has been doing much, much better and that unemployment is going to continue to go down,” Evans said in a speech in Chicago today. “Currently we have the appropriate monetary policy in place.”
The policy-setting Federal Open Market Committee said May 1 that it will keep buying $85 billion in bonds per month as it seeks to bolster growth and reduce joblessness. The U.S. central bank also said it would increase or decrease the pace of purchases in response to the labor market and inflation.