SAN FRANCISCO Feb 4 A top U.S. Federal Reserve
official critical of the central bank's policy of monetary
easing on Monday said he would support tapering, rather than
stopping, the Fed's current bond-buying program once the labor
St. Louis Federal Reserve President James Bullard last week
advocated such an approach.
"I feel the same way," Dallas Fed President Richard Fisher
said in an interview with Bloomberg Radio. Even though he was
against the program when the Fed began it last September,
stopping it suddenly would not be a good idea, he added.
The U.S. Federal Reserve last week left in place its
monthly $85 billion bond-buying stimulus plan, saying economic
growth had stalled but indicating the pullback was likely
Fisher reiterated his doubts about the effectiveness of the
"I am not worried about price inflation; what I've been
worried about is the efficacy of our policy as it affects job
creation," he said.
Of the Fed's purchases of mortgage-backed securities, he
said, "I think it has helped. It comes at a cost. The question
is how much do you do... Now it's a question of what encourages
hiring. That's where the efficacy is questionable. We'll see."