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Jun 7, 2013

Fed’s Plosser says jobs report another reason to trim QE3

PHILADELPHIA (Reuters) – The latest U.S. jobs report on Friday showed that government spending cuts have so far not been as damaging as some feared, Philadelphia Fed President Charles Plosser said, adding it only entrenched his opinion that the central bank should reduce its bond buying “now.”

In an interview, the long-time critic of the Fed’s quantitative easing program said he was comfortable with the recent rise in market interest rates as investors increasingly predict he and fellow policy-makers will reduce the pace of accommodation sooner than later.

Jun 7, 2013
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