Federal Reserve member: Bond buys likely to slow later in year

WASHINGTON • A Federal Reserve voting member says the central bank is “quite likely” to start reducing its bond purchases later this year but that any change hinges on the economy showing improvement. Charles Evans, president of the Fed’s Chicago regional bank, held off saying when the Fed would begin to scale back its $85 billion a month in bond buys. But he did not rule out the September meeting, during an interview with reporters. The bond purchases have kept long-term interest rates low, enc...

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