Fed Officials Affirm Need for Bond Buying to Cut Unemployment
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Federal Reserve policy makers said the central bank needs to bring down unemployment by pressing on with record monetary stimulus even as the economy shows signs of gaining strength.
Boston Fed President Eric Rosengren predicted in a speech yesterday that under current policy, it will take several years to reach full employment and an inflation rate of about 2 percent. Governor Daniel Tarullo told CNBC that “I haven’t seen anything which would warrant a reconsideration” of the Fed’s plans to buy $600 billion of Treasuries through June.