February 12, 2014 / 5:05 PM / 4 years ago

Soft data not enough to derail QE cuts -Fed's Bullard

Feb 12 (Reuters) - A top U.S. central banker said on Wednesday recently soft economic data is not enough to derail the Federal Reserve’s plan to keep reducing its bond-buying stimulus, and indeed he said more clarity on U.S. fiscal policy is a “bullish” signal for the economy.

“We do pay attention to the data,” St. Louis Fed President James Bullard said on Bloomberg TV. “All we are saying is, so far, this hasn’t been enough to derail our plan. And the plan is definitely to move out of the QE program.”

The bond-buying, known as quantitative easing, or QE, is running at $65 billion per month after having been trimmed in each of the last two months. Meantime in Washington on Tuesday, lawmakers in the House of Representatives approved a one-year extension of federal borrowing authority.

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