Williams Says Fed Bond-Buying Needed Well Into This Year
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Federal Reserve Bank of San Francisco President John Williams said the central bank’s bond-buying will be needed well into 2013, as he urged Fed policy makers to maintain “strong monetary stimulus” to foster economic expansion.
“We need powerful and continuing monetary accommodation to move toward our mandated goals,” Williams said in the text of prepared remarks in New York today, referring to the central bank’s mission to achieve maximum employment and price stability. “Purchases of mortgage-backed securities and longer-term Treasury securities will be needed well into the second half of this year.”