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Fed’s Plosser: Taper Pace May Be Too Slow

MarketWatch (03/10/14) Gabriele Parussini; William Horobin

The U.S. Federal Reserve may need to increase the pace of the reduction of its monthly bond-buying stimulus program to account for the current economic recovery, according to Federal Reserve Bank of Philadelphia president Charles Plosser. The U.S. economy grew 1.8% in the first half of 2013, and 3.3% in the second half. At the current pace, the stimulus will end later this year.