Fed’s Bullard: QE based on economy, not dates
WASHINGTON (MarketWatch) – The Federal Reserve’s decisions to slow or stop its bond buying program will depend on the economy’s performance, not any calendar dates, said James Bullard, the president of the St. Louis Federal Reserve Bank, on Friday. Markets reacted sharply on Thursday when the minutes of the Fed’s December meeting showed that many of the central bankers thought the Fed could slow or stop buying assets by mid-year. “I think the date thing is a little bit out of line,” Bullard said in an interview on CNBC. The discussion should be based on economy, he said. The St. Louis Fed president said he thinks unemployment will continue to tick down this year and could fall to 7.1% by the end of the year. If that happens, the Fed could think about ending its billion per-month bond-buying plan, he said.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
