Fed set to continue tapering despite disappointing jobs data

|By:, SA News Editor

The Federal Reserve is likely to continue scaling back its QE program despite the disappointing nonfarm payrolls report on Friday, writes WSJ Fed watcher Jon Hilsenrath.

The FOMC has cut the Fed's bond-buying program by $10B in each of its last two meetings and is set to trim purchases by another $10B at its next get together in March, when it would have another jobs report to consider. The Fed is currently acquiring $65B in bonds a month,

Richard Fisher of the Dallas Fed, who votes on policy this year, told CNN after the employment data came out that policy makers are "not swayed by a single number."