Fed’s Plosser Calls for Tapering of QE to Begin in September
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Federal Reserve Bank of Philadelphia President Charles Plosser, who has opposed the Fed’s current round of asset purchases, said the central bank should begin tapering its $85 billion in monthly bond buying in September and end the unorthodox stimulus by year-end.
“I don’t want to do it all at once, but I think we should begin to taper very soon and hopefully end it by the end of this year,” Plosser said today in an interview in Jackson Hole, Wyoming. “That would be a healthy thing for the economy. We can do it gradually.”