Fed's Evans: pace of QE3 taper is 'reasonable,' 'modest'

DETROIT Tue Feb 4, 2014 1:33pm EST

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DETROIT Feb 4 (Reuters) - The Federal Reserve's cuts to its massive bond-buying program have been "reasonable" and the pace of its reductions have been "modest," a top Fed official said on Tuesday, expressing support for continued paring of the program.

The Fed's quantitative easing program has already lasted longer than initially expected, Chicago Federal Reserve Bank President Charles Evans said after a speech here, but it has finally begun to kick in and jumpstart the recovery.

The unemployment rate can fall to as low as 5 percent to 5.25 percent before undesirable wage pressures may arise, he said.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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