Two Fed Presidents Emphasize Stimulus to Persist After QE Taper
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Two Federal Reserve presidents who differ over the need for more stimulus emphasized that monetary policy remains accommodative, less than a week after a timeline to reduce bond purchase jolted financial markets.
“What we’re talking about here is dialing back,” Richard Fisher, president of the Federal Reserve Bank of Dallas, said in London yesterday. “The word ‘exit’ is not appropriate here,” said Fisher, who doesn’t vote on policy this year and has been critical of the Fed’s easing policies.