Fed's Lacker says labor market improved substantially

NEWPORT NEWS, VA. Thu Aug 29, 2013 3:51pm EDT

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NEWPORT NEWS, VA. Aug 29 (Reuters) - The outlook for the U.S. labor market has improved substantially since the Fed launched its most recent bond-buying stimulus last year, Richmond Fed President Jeffrey Lacker said on Thursday.

"Personally, I opposed the purchase programs when they originated last September, so I was ready for tapering last October," he said.

"We've seen a substantial improvement in labor market conditions since we initiated the program. A good case can be made that that condition has been met."

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