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2 Fed officials offer differing views on bond buys

Published on NewsOK Modified: September 6, 2013 at 3:16 pm •  Published: September 6, 2013

George has argued that the bond purchases have lost their effectiveness and are raising the risks of financial market instability and higher inflation in the future.

In her speech, George said that slowing the bond purchases will likely make financial markets volatile for a period of time. But she said postponing the move "won't ease the inevitable adjustment." She added taking action now with a "firm plan and clear commitment" would be a step toward the Fed's objective of sustainable growth.

The comments do not represent a change in positions for the two Fed regional presidents, both of whom have votes on the Fed's policy committee this year. Evans has been a supporter of the Fed's bond purchases. George has objected to them at each of the Fed's five previous meetings this year.

The Fed's policy-making committee will also meet in October and December.