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Reduce QE3 given labor market rebound, Fed's Lacker says
November 1, 2013 / 5:21 PM / 4 years ago

Reduce QE3 given labor market rebound, Fed's Lacker says

(Reuters) - A top Federal Reserve official repeated on Friday that the U.S. labor market has recovered enough in the last 14 months to allow the central bank to reduce its bond-buying stimulus.

Jeffrey Lacker, president of the Federal Reserve Bank of Richmond, participates in a session titled, "Help or Harm: Central Bank Monetary Policies at the Outer Limits" NABE Economic Policy Conference in Washington March 5, 2013. REUTERS/Yuri Gripas

“On a number of different dimensions for me personally it looks like labor force conditions have improved pretty significantly” since the latest round of quantitative easing (QE3) was launched in September, 2012, said Richmond Fed President Jeffrey Lacker, a hawkish policymaker.

“The cumulative fall in the unemployment rate, the cumulative increase in employment are the key things,” he added at a Philadelphia meeting of the Global Interdependence Center.

Reporting by Jonathan Spicer; Editing by Chizu Nomiyama

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