Chicago's Evans: Action May Wait Til Spring; Tsy 13-3 Move 'Disappointing'

Chicago Fed President Evans on CNBC:

• Says that 13-3 facilities have been "helpful" as a "backstop", says the Treasury's decision not to extend beyond end-year is "disappointing".
• Says Fed providing substantial monetary support. But there are risks from virus spread, moving into the 'indoor season', a lot of challenges/risks - so it would be good to have more support coming from "all directions".
• Asked if Fed purchases need to be increased, Evans notes what the Fed has already done so far. Says Fed looking at the scale of its asset purchases, and the role that they can play, but providing tremendous amounts of support already. "In a pretty good place at the moment to see how everything is going to play out" (gov't transition, fiscal stimulus, public health).
• Interestingly, Evans looks past the December FOMC (which many observers have pointed to for potential action): Says he's looking at Spring for better understanding of labor dynamics as to whether the Fed should do more.
• Extending maturity of asset purchases 'part of the tool kit'; can increase the size of the balance sheet more quickly if appropriate.