Fed’s Plosser: Fed Should End MBS-Buying At $1.25T In 1Q

Keeping himself firmly in the inflation-hawk camp, Federal Reserve Bank of Philadelphia President Charles Plosser said Tuesday that the Fed should stick to its plan to end its purchases of mortgage-backed securities this quarter. In doing so, Plosser effectively opposed other Fed officials who have recently suggested the Fed might continue buying MBS beyond the current target to have acquired securities worth a total of $1.25 trillion by the end of this quarter. Kansas City Fed President Thomas Hoenig took a similar stance to the Philadelphia Fed Chief in a Bloomberg News interview published Monday.