Fed’s Williams Says Economy Far From Levels Needed to Pare Stimulus

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Federal Reserve Bank of New York leader John Williams said Thursday the U.S. economy remains some distance from where it needs to be for the Federal Reserve to pull back on its $120 billion a month in bond buying stimulus.

“The economy has improved and I think it’s on a good trajectory. But to my mind, we’re still quite a ways off from reaching this substantial further progress, you know, we’re really looking for” to start slowing the pace of asset purchases, Mr. Williams said during an interview on the Yahoo Finance channel.

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