"The benefits of our asset purchases may be diminishing . they also may have some risks...


"The benefits of our asset purchases may be diminishing ... they also may have some risks associated," says the Cleveland Fed's Sandra Pianalto (not a FOMC voter this year). She suggests the Fed could begin tapering asset purchases by year's end, but her prediction of 2.5% GDP growth doesn't seem to be enough to move the needle much on unemployment.

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