December 6, 2013

A top Federal Reserve official said on Friday he was “open-minded” to the idea of reducing the U.S. central bank’s bond purchasing stimulus program this month, but he would like to see a stronger labor market first.

Asked whether strong job creation in November put a tapering of bond purchases on the table at this month’s Fed meeting, Chicago Fed President Charles Evans said the data showed the economy was moving in the right direction.

U.S. employers increased payrolls by 203,000 new jobs in November, the Labor Department said earlier on Friday, a number that outstripped forecasts for 180,000 and brought the unemployment rate down to a five-year low of 7.0 percent.

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