(Reuters) - The U.S. Federal Reserve should wind down its bond purchases faster than planned and end it before mid-year, a hawkish Fed policymaker said on Wednesday, going a step further in his criticism of the stimulus. Philadelphia Fed President Charles Plosser warned of looming communications problems if the central bank keeps buying assets while, as he expects, the U.S. unemployment rate falls below 6.5 percent some time in the first half of 2014, from the current 6.7 percent. Plosser, who backed the Fed's decision last week to modestly trim the purchases, has long been in the minority of policymakers opposed to the 17-month old program of buying Treasuries and mortgage bonds to support the U.S. recovery, which has been slow in recent years but picked up toward the end of 2013. While he is unlikely to sway new Chair Janet Yellen and the Fed's other core decision-makers, his speech suggests he is ready to dissent if the central bank continues trimming the program by only $10-billion monthly increments at future meetings, as most economists expect.
via Business News - Yahoo Finance http://ift.tt/1jg4D4C
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