Chicago Fed President Charles Evans - the man whose ideas about QE∞ won the day on the FOMC -...

Chicago Fed President Charles Evans - the man whose ideas about QE∞ won the day on the FOMC - tells CNBC he expects unemployment in the 7% range for at least another 2 years. As 7% is unacceptable to Evans, the statement means he expects a minimum 2 years of continued $40B/month or more of asset purchases. Gold and silver erase early losses. GLD +0.3%, SLV +2% premarket.

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Comments (9)
  • anonymous#12
    , contributor
    Comments (545) | Send Message
    He is right. We need more QE, resource utilization is still low. $200B+ per month should help.
    1 Oct 2012, 09:12 AM Reply Like
  • mickmars
    , contributor
    Comments (1312) | Send Message
    Gold, Silver, Oil, Ag Commodities. Investing made easy by your neighborhood Federal Reserve Bank.
    1 Oct 2012, 09:19 AM Reply Like
  • Whitehawk
    , contributor
    Comments (3121) | Send Message
    Those clamoring for more monetary stimulus are typical welfare dependents.


    "Our economy today is simply not resilient enough" Evans will pump that welfare by bleeding solvent producers and owners, through the polity of central planning. How do we let these people run anything? They have shown failure time and again in their attempts to control the economy.
    1 Oct 2012, 09:44 AM Reply Like
  • Christopher Wallace
    , contributor
    Comments (1323) | Send Message
    Evans comments were known by the market 2 weeks ago. That is a 2 for 1 rally on the same news, if you ask me. Fade this rally going into the close.
    1 Oct 2012, 11:34 AM Reply Like
  • jrtroike
    , contributor
    Comments (11) | Send Message
    What would happen if too many dollars were printed and they became worthless to most ? I agree with Whitehawk. As a retired federal employee and veteran, I know how the government mentality functions and it will not be pretty when we are forced to fend for ourselves and grow food just to exist. I am afraid we moving backward and Redistribution will put us there a lot sooner than we could imagine. It is the wealthy we should thank for putting their capital at risk to create jobs for all. The wealthy are also wonderful benefactors.!!!!
    1 Oct 2012, 12:29 PM Reply Like
  • whidbey
    , contributor
    Comments (3552) | Send Message
    Old news, but we recycle the obvious endlessly. It really does not matter what the gentleman thinks, but what the otherUS debt holders of this world think. At some point it becomes all but impossible to believe the balance sheet of the Fed is not permanent. Japan has done that defacto, paid down nothing but interest( which is all it can manage), and to date it is being argued it was a good policy.


    How anyone knows that is not clear: good as compared to what?
    1 Oct 2012, 02:06 PM Reply Like
  • timaz55
    , contributor
    Comments (24) | Send Message
    print money=more dollars to buy gold,silver,food.
    1 Oct 2012, 03:19 PM Reply Like
  • gh1616
    , contributor
    Comments (864) | Send Message
    The junkie market craved another free money fix. $40 billion per month for 2 years....just another $trillion dollars! BB wants a pain-free solution, not going to happen. He probably knows it as much as anyone who understands current financial markets. Besides, those on fixed income, mostly seniors already know the pain! And now the government geniuses are suing the banks in civil court over sub-prime MBS.
    Talked with a senior banker last week, a midwest regional. He said: "you can't get a mortgage today without being dragged through a keyhole"! And that's pretty much regardless of assets.
    1 Oct 2012, 09:57 PM Reply Like
  • jelkas35
    , contributor
    Comments (8) | Send Message
    Thank you Mr. FED! More reason to convert my worthless paper into GOLD; SILVER and OIL! Hey Mr. FED why not go another $Trill since by the time your done my $Dollar will be worth about 40 cents or worse!!!
    5 Oct 2012, 09:58 AM Reply Like
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