Fed's Bostic expects central bank to pull back on asset buying this year - WSJ

Federal Reserve Bank of Atlanta President Raphael Bostic believes the Fed will pull back on its asset-buying campaign this year though he does not expect a decision in this month's central bank meeting, he told the Wall Street Journal.

Federal Reserve Bank of Atlanta President Raphael Bostic believes the Fed will pull back on its asset-buying campaign this year though he does not expect a decision in this month's central bank meeting, he told the Wall Street Journal. "As strong as the data was coming in the early part of the summer, I was really very much leaning into advocating for an earlier start than what many may have expected" on the bond-buying taper, Bostic told WSJ in an interview published on Thursday.

"The weaker data that we've seen more recently suggests to me that maybe there’s a chance for some play on this, but I still think that sometime this year is going to be appropriate (to slow the asset-buying)." Bostic, who does not currently hold a vote on the Federal Open Market Committee, does not expect there to be any call to pull back on asset buying at the Sept. 21-22 FOMC meeting, according to the report.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)