MNI BRIEF: Fed's Evans Downplays Need for More QE

Chicago Fed President Charles Evans downplayed the need for more asset purchases, saying market yields are already low and it will take time to assess how the economy may perform early next year with or without Congressional stimulus.

"I'm pretty comfortable with our asset purchase plan," Evans told reporters after a speech Wednesday. While something like a major credit market disruption or a drop in inflation expectations could warrant action, that isn't the case today. Any worsening of public health conditions from Covid-19 is also likely better handled by fiscal policy, he said. There could be a need for more communications on asset purchases sometime in the future, he said.