Fed’s George Still Uneasy About Fed’s Continued Bond Buying
The Federal Reserve’s decision to dial down its enormous bond-buying program is a small but positive step toward a more normal interest-rate environment, a top Fed official who has long opposed the policy said on Thursday. But the fact that the Fed continues to buy assets and plans to keep interest rates near zero for the foreseeable future is still cause for worry, according to Kansas City Federal Reserve Bank President Esther George. “(M)onetary policy is likely to remain highly accommodative for some time with additional (albeit reduced) asset purchases under the current program and an extended period of low interest rates,” George said in remarks prepared for delivery to the Wisconsin Bankers Association.
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