Fed’s Bullard Urges Wait for 2nd-Half Data Before Tapering
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Federal Reserve Bank of St. Louis President James Bullard, who backed this week’s Fed decision to continue bond buying, said the Fed should wait for evidence the labor market and economy are strengthening before tapering purchases.
“The committee needs to see more data on macroeconomic performance for the second half of 2013 before making a judgment on this matter,” Bullard said today in a speech in Boston. While improvement is forecast, “it is important to wait to see if better macroeconomic outcomes materialize in the months and quarters ahead.”