Fed's Williams Sees QE Extending Into Second Half of 2013
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Federal Reserve Bank of San Francisco President John Williams said the central bank will probably continue purchasing bonds well into the second half of next year to bring down U.S. unemployment now at 7.9 percent.
“I expect it will be some time until the job market makes substantial progress towards our congressionally mandated maximum employment goal,” Williams said today in the text of remarks prepared for a speech in San Francisco. “I anticipate that we will need to continue our purchases of mortgage-backed securities and longer-term Treasury securities past the end of this year and likely well into the second half of next year.”