The scale of the first reduction in asset purchases by the Federal Reserve is not as important as the clarity with which it communicates about where its policies are heading, a top U.S. central banker said on Thursday.
“I don’t know that the initial amount really matters in the context of its impact,” Kansas City Federal Reserve President Esther George told an audience in Denver after a speech.
“What is important, though, is that we will have to be clear, once we start, where we will be going with the end of the program,” she said.
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