Fed’s Bullard: Need Confidence Job Gains Will Stick Before Taper
St. Louis Federal Reserve President James Bullard said the Federal Reserve wants reassurance that U.S. labor market improvements will be lasting before starting to scale back its massive bond buying campaign. Bullard, who voted to maintain asset purchases at a $85 billion monthly pace when the Fed met earlier this week, also acknowledged it would be tough to convince markets that tapering would not mean a change in forward guidance on interest rates.
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