JPMorgan’s Feroli Says Fed Asset Purchases Unlikely in 2012

Michael Feroli, chief U.S. economist at JPMorgan Chase & Co. (JPM) in New York, said he doesn’t expect the Federal Reserve to undertake new asset purchases next year unless Europe’s situation deteriorates or inflation falls too quickly.

“So far, the European crisis has had a limited impact on the U.S.,” he said in an interview today with Bloomberg Television. “But you never know with Europe. We are as concerned as anyone.”

“For Europe, I think we are just getting started in terms of the slowdown,” Feroli said. “Whether we see more QE,” or quantitative easing, “I’m not convinced. Right now, the growth picture is not bad enough for the Fed to do more asset purchases.”

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