On suggestions to the Fed to taper smoothly their accomodative monetary policy.
I would refer you to our concluding statement on the Article IV Consultation with the United States, which we issued just late last week where we said that the microeconomic benefits of asset purchases continue to outweigh the costs and the Fed should continue its preparations for a gradual and smooth exit. The highly accommodative monetary policy has provided important support to the United States and to global economic recovery. And under our staff growth projections in that Article IV a continuation of large-scale purchases through at least end 2013 is warranted.
Obviously, the Fed has a range of tools to manage the exit from its highly accommodative policy stance. And in our Article IV concluding statement, we highlighted in particular the importance of effective communication and careful calibration of timing to avoid disruptions for the United States and for other countries.
I would refer you to our concluding statement on the Article IV Consultation with the United States, which we issued just late last week where we said that the microeconomic benefits of asset purchases continue to outweigh the costs and the Fed should continue its preparations for a gradual and smooth exit. The highly accommodative monetary policy has provided important support to the United States and to global economic recovery. And under our staff growth projections in that Article IV a continuation of large-scale purchases through at least end 2013 is warranted.
Obviously, the Fed has a range of tools to manage the exit from its highly accommodative policy stance. And in our Article IV concluding statement, we highlighted in particular the importance of effective communication and careful calibration of timing to avoid disruptions for the United States and for other countries.
