Fed to End Bond Buys This Month as Planned, Says Rosengren

(RECAP: The Federal Reserve will likely conclude its bond-buying program this month as planned, despite recent financial market volatility and speculation to the contrary, Boston Fed President Eric Rosengren said in an interview with The Wall Street Journal. “There are other tools that we can use. Staying at the zero lower bound for longer is one.” The Fed has kept official interest rates at effectively zero since December 2008, and bought over $3 trillion in mortgage and Treasury bonds in an effort to support the weakest economic recovery in decades. He suggested the Fed should err on the side of patience when weighing the timing and pace of interest rate increases, particularly given the recent record of not only elevated unemployment but also high underemployment and inflation that continues to fall short of the central bank’s official 2% target.)