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Fed's Fisher calls for gradual reduction of stimulus
June 24, 2013 / 5:22 PM / in 4 years

Fed's Fisher calls for gradual reduction of stimulus

Federal Reserve Bank of Dallas President Richard Fisher speaks about the concept of breaking up 'too big to fail' banks to a breakout group at the Conservative Political Action Conference (CPAC) in National Harbor, Maryland, March 16, 2013. REUTERS/Jonathan Ernst

LONDON (Reuters) - The Bank of Dallas President Richard Fisher said on Monday he advocates a reduction of the U.S. Federal Reserve’s stimulus programme but stressed this should be done gradually.

“I‘m not in favour of going from wild turkey to cold turkey over night,” Fisher said in a speech at the Official Monetary and Financial Institutions Forum (OMFIF).

The Fed’s chairman Ben Bernanke last week set a timetable for the central bank to reduce the size of its bond buying programme this year in light of stronger economic growth, with a view to ending it by the middle of 2014.

Reporting by Marc Jones and Francesco Canepa

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