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JOHN WILLIAMS, PRESIDENT AND CEO OF FEDERAL RESERVE BANK OF NEW YORK AND CHAIR OF THE ECNY

FINANCIAL TIMES: Top Fed official signals economy is strong enough for taper to begin

A senior official at the Federal Reserve signalled the US economy is strong enough for the central bank to begin reducing its massive bond-buying programme, but urged a “patient” approach to raising interest rates.

John Williams, president of the New York Fed, acknowledged the improving economic outlook and set the stage for the Fed to scale back its $120bn-a-month asset purchase programme this year.


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