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Fed's Williams says he's open-minded on cutting bond buys this month
September 4, 2013 / 4:32 PM / in 4 years

Fed's Williams says he's open-minded on cutting bond buys this month

PORTLAND, Oregon (Reuters) - San Francisco Federal Reserve President John Williams said Wednesday he still has not made up his mind as to whether he believes the U.S. central bank should begin paring its massive bond-buying stimulus when policymakers meet two weeks from now.

John Williams, president and chief executive of the Federal Reserve Bank of San Francisco, takes part in a panel discussion titled "U.S. Overview: Is the Recovery Sustainable" at the Milken Institute Global Conference in Beverly Hills, California May 1, 2012. REUTERS/Danny Moloshok

“I‘m going into this meeting with an open mind,” he said, adding that his view will depend not only on how the economic data comes in between now and then but also on what his colleagues say at the discussion.

Williams said the most important thing is that the Fed has an overall plan for ending its bond-buying program, rather than the exact timing of when the Fed begins trimming it.

The Fed is buying $85 billion in bonds each month to boost the economy.

Reporting by Ann Saphir; Editing by Chizu Nomiyama

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