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.