Federal Reserve Bank of Philadelphia President Charles Plosser, who votes on policy this year, said the Fed should press on with plans to trim its bond purchases with the economy likely to grow about 3 percent this year.
Here’s what to look for when the Federal Open Market Committee releases a statement today at 2 p.m. after a two-day meeting in Washington. It will be the last meeting for Chairman Ben S. Bernanke, who isn’t scheduled to give a press conference.
Federal Reserve policy makers trimmed bond buying for a second straight meeting, uniting behind a strategy of gradual withdrawal from Ben S. Bernanke’s unprecedented easing policy as Janet Yellen prepares to succeed him as chairman.
Cleveland Federal Reserve Bank President Sandra Pianalto said more easing isn’t necessary even though she predicts just moderate growth and the jobless rate probably won’t fall to 6 percent for about four years.