Oct 15 (Reuters) – The U.S. jobless rate is set to drop
further and possibly faster over the coming six months,
according to research published Tuesday by the Federal Reserve
Bank of San Francisco.
That encouraging outlook could bolster the case for the U.S.
central bank to ease up on its monetary gas pedal, currently
pushed nearly to the floor to drive down borrowing costs and
stimulate investment and hiring.
NEW YORK (Reuters) – One of the Federal Reserve’s biggest critics of the U.S. central bank’s asset purchases said that because of the fiscal standoff in Washington policymakers are unlikely to reduce stimulus later this month.
Richard Fisher, the hawkish president of the Federal Reserve Bank of Dallas, said that even he does not think he could make a case for scaling back bond purchases at the Fed’s policy meeting on October 29-30.