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Fed’s Evans Calls for New Fiscal Stimulus

President of the Federal Reserve Bank of Chicago Charles Evans said on Tuesday that failing to pass a new economic stimulus package could lead to a longer recession and a slower recovery, Reuters reported.

“Fiscal support is just fundamental.”

Evans expects the unemployment rate in the United States to decline to 5.5% by the end of 2021, assuming fiscal stimulus between $500 billion and $1 trillion.

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