Fed presidents opposed as September meeting nears


Federal Reserve regional presidents John Williams and Narayana Kocherlakota set out their stalls on the future of the Fed's monetary policy yesterday, as expectations continue to build that the Federal Reserve will begin scaling back its asset purchases as of its meeting on September 17–18.

Williams, the Federal Reserve Bank of San Francisco president, reaffirmed his support for reducing asset purchases "later this year" and ending them altogether "around the middle of next year".

In contrast, K

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