Fed's Evans Reiterates Dovish Stance on CNBC

Charles Evans, President of the Chicago Fed and FOMC voting member, in an interview with Maria Bartiromo on CNBC, reiterated his dovish stance and supported further Fed easing. He said that employment growth is disappointing and that traders tend to forget that Europe is entering a recession and only focus on the debt crisis.

Evans supported further Fed easing policies, as he did a few days ago. He says, "As long as unemployment is above 7% and inflation is below 3%, I support more easing. If inflation hits the higher end of the tolerance ranger, near 3%, then I would advocate tighter policies."

On fiscal policy, he says takes the same tone as Chairman Bernanke did, in that he supports more stimulus now with a focus on cutting spending in the medium term.

When asked what indicators he watches on Europe, he said that he is "watching the spreads on peripheral debt and general economic indicators." He says that traders are forgetting the costs on the ground to the European people in this whole crisis, as they focus only on the financial aspect of it.

Charles Evans is the ninth President of the Federal Reserve Bank of Chicago. He was formerly the bank's director of research on monetary policy, banking, financial markets and regional economic conditions. He received a bachelor's degree at the University of Virginia and a doctorate in economics at Carnegie-Mellon University in Pittsburgh.