Fed chief supports scaling back bond purchases

Fed chief supports scaling back bond purchases

The Federal Reserve's San Francisco chief spoke in Portland, saying that scaling back bond purchases this year and stopping them next year is the best course of action.

John C. Williams, speaking in Portland, said he agreed with a timetable for the purchases outlined by Fed Chairman Ben Bernanke.

However, Williams said any policy actions “depend crucially” on improving labor market and inflation data.

Williams called the Fed’s policies instrumental in the economic recovery. “But the time is approaching when our economy will have enough momentum on its own without the need for additional monetary stimulus,” Williams said, in remarks prepared for the event.

Read more at OregonLive.com.