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2 Fed officials clash over tapering plan

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By The Associated Press
Saturday, Sept. 7, 2013, 12:01 a.m.
 

Two voting members of the Federal Reserve panel that sets interest rates are expressing clashing views over when the Fed should reduce its $85 billion a month in bond purchases.

Esther George, president of the Kansas City Federal Reserve Bank, suggested the Fed should slow the purchases after it meets Sept. 17-18. She said she could support an initial reduction of $15 billion a month.

Charles Evans, president of the Chicago Fed, said he isn't confident enough that the economy is gaining momentum or that inflation is rising.

Evans spoke before the government issued a subpar August job report, which the Fed will weigh in deciding whether to slow its bond buying. George spoke afterward.

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