Federal Government Policy and Business

Undeterred, Fed on Track to Temper Its Stimulus

The New York Times: WASHINGTON — When Federal Reserve officials last met at the end of January, they were surprised by the strength of the economy, cheered by the optimism of consumers and convinced they should continue to dismantle the Fed’s economic stimulus campaign, according to an account the Fed released Wednesday.

The account left little doubt Fed officials intend to steadily reduce purchases of Treasury and mortgage-backed securities, notwithstanding a recent run of disappointing economic data. John Williams, president of the Federal Reserve Bank of San Francisco, said Wednesday on CNBC that even a third consecutive month of paltry job creation was not likely to deter the Fed from tapering again.

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