Richard Clarida, vice chairman of the Federal Reserve, said on Friday that he preferred to start scaling back the central bank's monthly bond purchases later this year.
"We did test the slowdown in December and we want to see significant further progress towards our goal, and I agree with Powell," Mr Clarida said. I think we do meet this standard in terms of inflation. "
"We have made progress in the labour market. In July, we don't think significant progress has been made, but there has been an average monthly job growth of 800000 over the past three months, and I expect this momentum to continue in the autumn. " Clarida said.
"if this happens, I will support a reduction in the pace of bond purchases later this year," he said.