Philly Fed Pres. Too Early to Tell if Fed Will Complete Full $600 Billion EasingSubmitted by bobbyw24 on Sat, 11/20/2010 - 11:46
Federal Reserve Bank of Philadelphia President Charles Plosser said it’s too early to assume the central bank will complete the $600 billion in Treasury purchases authorized by policymakers this month.
“It’s premature to presume the answer to that one way or another,” Plosser said yesterday in an interview with Bloomberg Television in Washington.
“A lot will depend on how the data begin to unfold over the next several months as to whether or not we think it’s necessary, whether the efficacy of the policy is doing what we thought it would do, whether we continue to think it’s necessary.”
Plosser, who will be a voting member of the Fed’s Open Market Committee in 2011, said before the Nov. 3 stimulus decision that he didn’t support additional asset purchases.
Today he said he would “not necessarily” try to halt the securities buying, saying his decision would depend on economic data.