Fed's Plosser wants to end asset purchases by summer
Federal Reserve Bank of Philadelphia president Charles Plosser, who has long been critical of the Fed's asset-purchasing programme and supports the Federal Open Market Committee's (FOMC) decision last month to scale it back by another $10 billion, said yesterday that he "would like to see purchases concluded before the unemployment rate reaches the [Fed's 6.5%] threshold, which is likely during the first half of the year".
"My preference is to scale back our purchase programme at a faster pace,"
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