Fed’s Plosser Says Better Job Market Shows Taper Need

Federal Reserve Bank of Philadelphia President Charles Plosser, who has opposed additional stimulus, said better-than-expected job growth bolsters the case for the central bank to wind down its asset purchases.

“With the economy doing what it’s doing, it’s probably time to figure out a way to gracefully exit from this,” Plosser said today in an interview on CNBC television. “We should be looking for ways to withdraw support or at least slow down the increase in accommodation in order to begin to let the economy stabilize on its own.”