Fed's Kohn says unwinding stimulus is crucial, tricky

01/5/2010 | Wall Street Journal, The

Donald Kohn, vice chairman of the Federal Reserve, said the central bank needs to be careful about the timing of withdrawing stimulus efforts. "We will need to begin withdrawing extraordinary monetary stimulus well before the economy returns to high levels of resource utilization," Kohn said. The Federal Open Market Committee "has been clear that its expectations for the stance of monetary policy depend on economic conditions, including resource utilization, inflation and inflation expectations."

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