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Fed's Powell had little enthusiasm for QE3, transcripts show
Jerome Powell, President Donald Trump’s pick to lead the U.S. central bank starting next month, backed the Federal Reserve’s third bond-buying program only reluctantly, transcripts from the Fed’s 2012 policy meetings show. “I’m supporting (the decision) with a certain lack of enthusiasm, and I am somewhat uncomfortable with the road that we are on,” Powell said at the Fed’s September 2012 meeting, when policymakers agreed to begin buying $40 billion in mortgage-backed securities a month to help keep interest rates low and boost hiring and investment. Powell, who joined the Fed in mid-2012, said little ... (full story)