Fisher: Fed has its finger on taper trigger

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Richard Fisher, the Federal Reserve Bank of Dallas president, believes his colleagues on the Federal Open Market Committee (FOMC) are more resolved to taper the Fed's $85 billion of monthly asset purchases before the year is out.

US unemployment fell to 7.4% in July, down from 7.6% in June, as the economy added 162,000 new jobs. Fisher believes this has tipped the committee members in favour of tapering.

"I would say that the committee is now closer to execution mode, pondering the right time to

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