Fed will 'absolutely' remove accommodation when time right -Dudley

NEW YORK Thu Nov 29, 2012 10:13am EST

NEW YORK Nov 29 (Reuters) - The Federal Reserve, which has kept interest rates ultra low for four straight years and bought more than $2.3 trillion in securities, will "absolutely" remove that accommodation "when the time is right," New York Fed President William Dudley said on Thursday.

Dudley, answering questions at a Pace University forum, added that the sweeping new regulations included in the Dodd-Frank financial reform bill have had only a "very muted" impact on the U.S. economic recovery.