NEW YORK, Sept 24: An influential Federal Reserve policymaker said he ‘certainty wouldn’t want to rule out’ a reduction in the US central bank’s bond-buying program later this year, adding the Fed expected slower economic growth now than it did in June.
The decision ‘depends on the data,’ New York Fed President William Dudley said in a Monday interview aired on CNBC Tuesday. ‘The thing that we really want to emphasize is that it’s driven by data, not by time.’
Dudley, a close ally of Fed Chairman Ben Bernanke, repeated, however, that a plan that Bernanke articulated in June to wind down the quantitative easing program remained ‘intact.’ The plan was to reduce QE later this year and to end it by about mid-2014 as long as the economy keeps improving as expected.
(agencies)
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