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Yellen said the Fed "will likely reduce the pace of asset purchases in further measured steps at future meetings".
Thereafter the Fed "will likely reduce the pace of asset purchases in further measured steps at future meetings".
Mr. Bullard later said in New York that low inflation meant the Fed could be patient in deciding when to scale back the pace of asset purchases.
As a result, she said, "I support slowing the pace of asset purchases as an appropriate next step for monetary policy".
But the central bank has shown no interest in expanding its pace of asset purchases to nudge inflation up while continuing to help bring unemployment down.
BEFORE the Fed's statement on Wednesday markets appeared to believe that some reduction in the pace of asset purchases was in order, mostly likely of around $10 billion.
Similar(27)
Paul Dales at Capital Economics said: We expect a small cut in the pace of monthly asset purchases, from $85bn to $75bn.
Since May, when the Federal Reserve first said it might slow the pace of its asset purchases, investors have begun adjusting to a world without ultra-cheap money.
"In all, we see a significant chance that the ECB will have to increase the pace of its asset purchases again next year.
Growth is cratering around the region.Most news stories relate the carnage to anticipated changes in Federal Reserve policy: "tapering", which may begin in September or October, of the pace of stimulative asset purchases.
As for the pace of Fed asset acquisition, a picture says it all: MacroScope (@MacroScope) The Fed's bloated balance sheet twitter.com/MacroScope/sta… March 19 , 20136.31pm GMT Bernanke is speaking.
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