Fed: Federal Reserve Bank of Chicago

Federal Reserve Bank of Chicago: BANGKOK - Asian stock markets fell Wednesday on expectations the U.S. central bank will begin to phase out its monetary stimulus next month. , according to Winnipeg Free Press. Charles Evans, who votes on the Fed's policy as president of the Federal Reserve Bank of Chicago, told reporters Tuesday the Fed was "quite likely" to start reducing purchases this year and didn't rule out a decision being made at the Fed's next meeting in September. That is a sign that Fed officials believes the U.S. economy is strengthening. A woman walks past a bank electronic board showing the Hong Kong share index outside a Hong Kong local bank Tuesday, Aug. 6, 2013. Asian stock markets were mostly lower Tuesday despite an upbeat report on U.S. service industries that are the main driver of growth in the world's No. 1 economy. Hong Kong's Hang Seng dropped 1.6 percent to 21,872.03, dragged down by HSBC Holdings, which plunged 4.7 percent a day after the bank reported weaker-than-expected revenue for the first half of the year. AP Photo/Vincent Yu Positive U.S. trade data and comments by a Federal Reserve bank regional president increased speculation that the Fed could begin reducing its monthly $85 billion in asset purchases in September. The program has helped keep interest rates super-low in order to spur growth. But it also had the unintended effect of pushing up stock markets, where investors have fled in search of returns that outpace bonds. (www.immigrantscanada.com). As reported in the news.