Fed’s Fisher Says He Backs Tapering QE as Economy Improves

Federal Reserve Bank of Dallas President Richard Fisher, who doesn’t vote on monetary policy this year, said he favors scaling back the Fed’s monthly bond-buying if the economy makes the kind of progress officials are currently expecting.

“I agree fully with the chairman that we should dial back on the stimulus” should “we achieve what the 19 of us forecast,” Fisher said today in a speech in London. The central bank is currently purchasing $85 billion in bonds every month.