12:44 PM » Fed's Pianalto: Scaling back QE could come soon
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WASHINGTON (MarketWatch) - Economic conditions could emerge "before long" that would allow the Federal Reserve to slow the pace of its $85 billion-a-month asset purchase program, said Sandra Pianalto, president of the Cleveland Federal Reserve Bank, on Wednesday. In a speech to the CFA Society in Cleveland, Pianalto said that the economy appears to be on a steady growth path and the potential risks of the asset purchases "appear manageable" at the moment. "I would regard a slowing in the pace of asset purchases to be a welcome direction for monetary policy, if it resulted from a significant improvement in the outlook for labor market conditions," Pianalto said.