Daily News: March 26, 2013

WSJ: Fed NY President Backs Tapering Bond Buying

The Wall Street Journal reported that William Dudley, president of the Federal Reserve Bank of New York, promoted a plan for the central bank to scale back the pace of its bond-buying program as the jobs market improves, though he stressed that a decision on how to proceed is far from imminent.

The article noted that Dudley said in a speech that the Fed “should calibrate” how much U.S. debt and mortgage-backed securities it buys each month “by allowing the flow rate of purchases to respond to material changes in the labor market outlook.”

To read the entire Wall Street Journal article, click here.