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Fed officials sing same song on cutting QE3 next month: Fisher
August 8, 2013 / 8:44 PM / 4 years ago

Fed officials sing same song on cutting QE3 next month: Fisher

Federal Reserve Bank of Dallas President Richard Fisher (R) testifies alongside FDIC Vice Chair Thomas Hoenig before the House Financial Services Committee hearing on "Examining How the Dodd-Frank Act Could Result in More Taxpayer-Funded Bailouts" on Capitol Hill in Washington June 26, 2013. REUTERS/Yuri Gripas

(Reuters) - The U.S. Federal Reserve will likely begin cutting back on its massive bond-buying stimulus next month, as long as economic data continues to improve, a top Fed official said on Thursday.

Richard Fisher, president of the Dallas Fed, on Thursday reiterated that the Fed is getting closer to cutting back on its bond purchases. He is one of four top policymakers this week who have suggested they would be open to trimming the Fed’s $85 billion in monthly bond purchases starting in September.

”You heard a choir that may have altos, sopranos, tenors - but we’re all singing from same song book,“ Fisher said in an interview on CNBC. ”It’s the same message for you, which is if things go as the (Fed policy-setting) committee expected, then I would expect us to dial back. We will have to see what the data and the feeling is between now and the time we next meet in September.

Reporting by Ann Saphir; Editing by Leslie Adler

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