August 24, 2010 / 6:42 PM / 7 years ago

Fed wanted to avoid unintended tightening: Fisher

WASHINGTON (Reuters) - The Federal Reserve decided to reinvest proceeds from its mortgage-related assets to avoid unintentionally clamping down on monetary policy when the recovery was showing signs of weakening, a top Fed official said on Tuesday.

“We didn’t want to send a signal that we were tightening at a time when the data was actually getting a little bit weaker,” he said in a television interview on Fox Business Network.

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