Jan 7 (Reuters) - Chicago Federal Reserve President Charles Evans on Thursday said that if inflation does not look on track to return to 2% later this year, the U.S. central bank may need to do more with its asset purchase program to convince markets it is serious. “If unemployment is coming down to 5%, we are going to be making progress to getting inflation up to our 2% objective and beyond that (and) we may not need to do more in terms of asset purchases” and could even taper them, Evans told reporters after speaking to bankers associations in Wisconsin and Indiana. But if he became concerned about the inflation outlook, he said, “I’d be advocating for stronger asset purchases.” (Reporting by Ann Saphir Editing by Paul Simao)