Blow For The Bulls As Evans Says Doesn't Want More QE

In what could be described as a blow to bulls, Federal Reserve President Charles Evans has said that he does not want to do additional quantitative easing in an interview with the Wall Street Journal.

Evans, who is the president of the Federal Reserve Bank of Chicago, said that he expects growth in 2011 of 3% to 3.25%, and 3.5% to 3.75% in 2012. This is down sharply from his prior outlook of 4%. A slew of economic data that has come in worse than expected caused Evans to cut his view.

Evans also cited such factors as the Japan's earthquake and tsunami.

In what can be described as a huge blow to bulls, Evans said he did not want to do another round of quantitative easing, and that has backed equity indices off their best levels of the day. The comments were made about 30 minutes ago, and since the comments hit the tape, the equity markets have fallen ever since.

At last check, the Dow was up 53 points, the NASDAQ was up 7 points, and the S&P 500 was up 6 points.