A week ago I wrote that I believed QE will end this year after tapering off in June. I stand by this stance. However, we have heard from three Fed officials in the interim and I wanted to pass on what they are saying to gauge how likely it is that the Fed will taper QE in June and end it in 2014.
The Wall Street Journal's blog Real Time Economics picked up on all three. First, there's Charles Plosser of Philadelphia. Note that while what he says influences policy, Plosser is an alternate member of the FOMC and cannot vote on decisions.
The WSJ wrote:
The leader of the Philadelphia Fed said Tuesday any central bank exit strategy should return the institution to its pre-crisis roots, and he warned his colleagues not to over-rely on a relatively new power that allows them to pay interest on ...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.