COLUMBUS, Georgia, March 10 An influential U.S.
policymaker said on Monday the Federal Reserve will continue to
trim its monthly asset purchases at a $10 billion pace, and gave
detail on how the central bank might adjust its so-called
forward guidance on interest rates.
"We're at a point now where we're ... moving away from
purchasing assets, we're tapering, and our balance sheet
continues to be very large but we're not going to add to it as
much," Chicago Fed President Charles Evans said at Columbus
"The last two meetings we reduced the purchase flow rate by
$10 billion and we're going to continue to do that," he said
Evans added that the Fed will have to adjust its stated plan
for keeping rates near zero, saying the new guidance would
likely be "qualitative" and describe how the Fed is "looking for
the economy to grow, and it will continue to be very low
interest rates until we see improvements in the labor market and
inflation to get up."