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George keeps up lonely fight against Fed bond program

Staff Kansas City Business Journal

Kansas City Federal Reserve Bank Chairwoman Esther George pushed again Wednesday to end a program meant to prop up the U.S. economy — and again was the only one to vote that way, The Wall Street Journal reports.[1][2][3]

George has now voted seven times as a member of the Federal Open Market Committee to end the Federal Reserve policy of buying about $85 billions worth of bonds each month. She said in a speech in Denver last month[4] that she was disappointed that a move to slow, or taper, the buying program was put off due to worries about a slowing recovery.

George contends that the Fed's bond-buying, or quantitative easing, policy carries risks of its own and that beginning a slow withdrawal will help the market adjust.

References

  1. ^ Federal Reserve (www.bizjournals.com)
  2. ^ Esther George (feeds.bizjournals.com)
  3. ^ The Wall Street Journal reports. (blogs.wsj.com)
  4. ^ in a speech in Denver last month (www.bizjournals.com)
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