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Solid Economic News Puts Tapering Back On The Agenda
Feds on Employment Report in Dec Meeting "hotly debated when Fed policymakers next meet, in December." "would likely be "noisy.""
Dennis Lockhart, president of the Atlanta Fed, and John Williams, president of the San Francisco Fed, said they were encouraged by the October job gains, but they warned against reading too much into one month of data.
Still, Lockhart said he would not rule out paring back the Fed's massive stimulus program before the end of the year, suggesting that whether the Fed can safely cut its $85 billion-a-month in bond purchases will be hotly debated when Fed policymakers next meet, in December. Lockhart told reporters that data leading up to the Fed's meeting on December 17-18 would likely be "noisy."
"This is a period in which there are a lot of unusual things going on," he said. "So for that reason, I would be a little reticent to draw up very profound conclusions from one month's positive jobs number."
Comments
"hotly debated when Fed policymakers next meet, in December."
"would likely be "noisy.""
Dennis Lockhart, president of the Atlanta Fed, and John Williams, president of the San Francisco Fed, said they were encouraged by the October job gains, but they warned against reading too much into one month of data.
Still, Lockhart said he would not rule out paring back the Fed's massive stimulus program before the end of the year, suggesting that whether the Fed can safely cut its $85 billion-a-month in bond purchases will be hotly debated when Fed policymakers next meet, in December.
Lockhart told reporters that data leading up to the Fed's meeting on December 17-18 would likely be "noisy."
"This is a period in which there are a lot of unusual things going on," he said. "So for that reason, I would be a little reticent to draw up very profound conclusions from one month's positive jobs number."
Williams likewise said he does not want to be swayed by a single data point, however positive.
http://www.reuters.com/article/2013/11/09/us-usa-fed-bernanke-idUSBRE9A70ZT20131109?feedType=RSS&feedName=businessNews