10:45 AM » Fed's Rosengren casts doubt on extending QE3
WASHINGTON (MarketWatch) - Boston Fed President Eric Rosengren expressed doubt Friday that the Federal Reserve would extend its bond-buying program past an October deadline. Fed officials will meet on Oct. 28-29 to set monetary policy and had said they expected to end their bond-buying program at that time. On Thursday, St. Louis Fed President James Bullard said the central bankers should consider extending the bond buying program at least until December to get a better sense of whether the recent financial market volatility would impact the economy. In an interview with CNBC, Rosengren suggested he would support ending the QE3 on schedule at the end of the month. "The [QE3] program was really designed that once we made substantial progress on the unemployment rate and labor markets more generally that that program would end. If it looks like we're not going to get that kind of progress now and going forward then we'd have to reconsider it, but I would be surprised if in the next two weeks we get enough data to make us change our mind on that," he said. Asked if he had changed his view on the timing of the first rate hike from mid-2015, Rosengren said that the data has not shifted enough to dramatically change his overall forecast.