The Federal Reserve will likely continue to cut its massive bond-buying program by $10 billion at each meeting unless the economy veers sharply from expectations, two top Fed officials from opposite ends of the policy spectrum said on Tuesday.
But the two policymakers, Chicago Fed President Charles Evans and Richmond Fed President Jeffrey Lacker, disagreed on how long rates should stay low.
Lacker, whose concern with the threat of inflation marks him as a hawk, called for a rate rise in early 2015. Evans, a policy dove focused on the threat of high unemployment, said he preferred to wait until “well into” 2015.
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