Chicago Fed pres: Signs of growth

COLUMBIA, S.C. (AP) — The president of the Federal Reserve Bank of Chicago says the U.S. economy has been disappointing over the last two years, but there are signs of growth.

Charles Evans said Monday in a speech at the University of South Carolina that he thinks the current Fed policy has promoted some growth, but significant improvement in unemployment is still years away.

He said companies are focusing more on productivity than hiring new people.

Evans has been president of the Chicago Fed since 2007 and helps set policy for the U.S. central bank as a voting member of the Federal Open Market Committee.

Evans taught economics at USC’s Darla Moore School of Business from 1988 to 1991 and has taught at the University of Chicago and the University of Michigan.
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