Fed Officials Signal Intent to Back Bond Buys

Fed Officials Signal Intent to Back Bond Buys - Fed...

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Fed Officials Signal Intent to Back Bond Buys By JON HILSENRATH Federal Reserve Chairman Ben Bernanke appears to have support from other Fed officials to continue his $600 billion bond-buying program when they convene for their next policy meeting on January 26-27. Charles Plosser, president of the Federal Reserve Bank of Philadelphia, was the latest to signal a desire for continuity from the Fed, even though he is highly skeptical of the program's effectiveness. "I wish we hadn't done it, but that doesn't mean I want to stop it right now," Mr. Plosser said in an interview with The Wall Street Journal. Bloomberg News Charles Plosser, president and chief executive officer of the Federal Reserve Bank of Philadelphia, speaks to the media on Tuesday. Mr. Plosser is among four regional Fed bank presidents who become voting members of the policy-making Federal Open Market Committee this
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year. The others are Charles Evans of Chicago, Richard Fisher of Dallas and Narayana Kocherlakota of Minneapolis. The FOMC consists of 12 regional Fed bank presidents plus the members
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Fed Officials Signal Intent to Back Bond Buys - Fed...

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