Fed’s George Says Job Gains Warrant Tapering Bond Buying

Federal Reserve Bank of Kansas City President Esther George, who has repeatedly dissented against adding stimulus, said labor-market gains warrant tapering the Fed’s bond purchases immediately and halting buying by mid-2014.

“Recognizing that there has been clear, ongoing improvement in the labor market and other parts of the economy is not to suggest the end of accommodative policy, but instead acknowledges that it is time to move away from using policy tools that were appropriate during the financial crisis and begin the long process of adjusting policy to more normal conditions,” she said in a speech in Denver.