Fed members increasingly concerned about economic recovery ahead of next jobs report and September policy meeting

By Dominic Rushe in New York, Guardian.co.uk, August 27, 2012

The Federal Reserve needs to take action now to bring down the jobless rate, a top Fed official said on Monday.

Charles Evans, president of the Chicago Federal Reserve, said the central bank should not wait for more data. "I don't think we should be in a mode where we are waiting to see what the next few data releases bring. We are well past the threshold for additional action; we should take that action now," he told reporters at a seminar at the Hong Kong Bankers Club.

Last week the Fed released minutes from its last meeting a the end of July which showed its members were increasingly concerned about the slowdown in the US's fragile economic recovery. At their previous meeting in June the minutes showed only "a few members" thought further stimulus would likely be needed [....]