Bloomberg News

JPMorgan’s Feroli Says Fed Asset Purchases Unlikely in 2012

December 16, 2011

Dec. 16 (Bloomberg) -- Michael Feroli, chief U.S. economist at JPMorgan Chase & Co. in New York, said he doesn’t expect the Federal Reserve to undertake new asset purchases next year unless Europe’s situation deteriorates or inflation falls too quickly.

“So far, the European crisis has had a limited impact on the U.S.,” he said in an interview today with Bloomberg Television. “But you never know with Europe. We are as concerned as anyone.”

“For Europe, I think we are just getting started in terms of the slowdown,” Feroli said. “Whether we see more QE,” or quantitative easing, “I’m not convinced. Right now, the growth picture is not bad enough for the Fed to do more asset purchases.”

--With assistance from Mark Crumpton in New York. Editors: Vince Golle, Gail DeGeorge

To contact the reporter on this story: Vivien Lou Chen in San Francisco at vchen1@bloomberg.net

To contact the editor responsible for this story: Christopher Wellisz at cwellisz@bloomberg.net


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